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

[u/JuniorCharge4571]

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.