Symantec Beats Claims Over LifeLock, Blue Coat Purchase

Symantec Corp. and several of its corporate officers beat claims that they misled investors about the cost savings and growth that a pair of transactions would bring.

A proposed class of investors failed to show that the defendants engaged in manipulative or deceptive practices, the U.S. District Court for the Northern District of California said June 14.

The allegations stem from the cybersecurity company’s acquisition of two companies—Blue Coat Systems Inc. and LifeLock Inc.

Symantec asserted that the acquisitions resulted in cost-savings and synergies leading to a strong quarter of growth it announced in May 2017, the complaint alleged.

The ...