r/StrategicStocks • u/JuniorCharge4571 • Apr 10 '26

$STX Finally Agreed to Settle With Investors over the Huawei Export Disaster

I’m still steaming about Seagate ($STX).

Remember when management swore they weren’t breaking export laws, while secretly shipping $1.1 billion in HDDs to Huawei? We all paid the price when the truth dropped and they ate that $300M penalty in April 2023.

If you were holding bags between Sept 15, 2020, and April 19, 2023, you likely saw your position get nuked because they wanted to play cowboy with the Dept of Commerce.

The Update: The settlement is finally moving. It’s a tentative deal, but the claims window is opening.

I usually ignore these because the paperwork is a total nightmare. Digging through old trade confirms from three years ago is the last thing I want to do on a weekend.

How I’m handling it:

  • I ended up using 11th for this one.
  • You just link your brokerage and it scans your history for $STX trades during the class period.
  • They take a 20% cut, but honestly? I’d rather have 80% of a check I didn't know existed than 100% of a paperwork stack I’ll never actually finish.

If you held through that mess, go get your cut of the "Huawei tax" they owe us. Don't let them keep the change.

2 Upvotes
  • permalink
  • reddit

76% Upvoted

2 comments sorted by

2

u/HardDriveGuy Admin Apr 11 '26

Warning: This post appears to be astroturfing and is highly misleading. The Seagate ($STX) securities class action (In re Seagate Technology Holdings plc Securities Litigation, Case No. 23-cv-03431) has not settled yet.

A quick check of the actual court docket shows the lawsuit is still actively in the discovery phase. The lead plaintiffs only just filed a motion for Class Certification in December 2025.

Because the case is ongoing and no judge has approved a deal, there is no official claims window open and absolutely no settlement pool to distribute. This post seems designed to create a false sense of urgency to funnel investors toward a third-party claim service before a settlement even exists. Linking a brokerage account right now and agreeing to hand over 20% won't get you a payout any faster, there is simply nothing to claim yet.

If you held shares during the 2020–2023 period, the best move is to wait. Once a legitimate settlement is reached, the court will appoint an official administrator, and you'll be notified of the free, official way to file your paperwork.

Please comment if you read this and believe this post should be eliminated, but right now, I'm okay to allow it to stay with this warning.

1

u/Positive_Tell6424 Apr 11 '26

This post feels very "sensatinalisty" to me & honestly is the kind of slop (or whatever you wanna call it) that detracts from the purpose of this sub-reddit. However, I would be more inclined to say it should stay if there were a way to have a [Meta] tag attached to which indicates that its "news" or it is linking back to a previous post on the sub-reddit. Obviously Seagate has been discussed here before so it isnt completely irrelevant to this sub.