Symantec Investigation

Intel Stxp17
May 11, 2018 26 Comments

What's the details with the Symantec internal investigation? Any news or rumors? More importantly, time to buy the stock for recovery or will it sink lower?

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TOP 26 Comments
  • New Symantec management is shady as shit. The absolute worst kind. I hope some end up in Jail after this investigation.
    May 28, 2018 2
    • Symantec YQFu06
      What were they doing
      May 29, 2018
    • Since you’re inside, why not wait and find out. Incompetent, fraudulent, win at any cost and true old boys club kinda folks.
      May 30, 2018
  • I hope dirt comes out! Few of us were going to sue them for wrongful dismissal ( we definitely had the case). But didn't pursue as we were told by some well wishers that we would be labeled "anti employer" and would have challenges finding jobs.
    May 11, 2018 1
    • Intuit vp46
      Bullied ?
      May 23, 2018
  • Symantec 3310
    Do not know about layoffs, but the management chain is never afraid to threaten the loss of your job, vs looking to assist and help you out.... insecure management does not coach or mentor = they replace
    Jan 17 0
  • Symantec YQFu06
    The execs and cronies had a special bonus plan
    Jun 5, 2018 0
  • Symantec / Eng eYcG72
    We have not been told anything internally. I am bit pessimistic myself. Potential for revising past earning reports lower which is not good.
    May 11, 2018 0
  • Symantec / Eng eYcG72
    Just add to it that they started to pay us with RSUs, yeah starting to make sense.
    Jun 5, 2018 0
  • DreamWorks easythrees
    Wait, what investigation at Symantec? Why?
    Aug 12 3
    • Symantec / Eng eYcG72
      This is old news. About year ago whistleblower in the CFO org said that sales where being moved to future quarters after they hit their quota for the month. Symantec had to restate earnings for one quarter and led to the activist investors taking over and firing or forcing out most of the Bluecoat leadership.
      Aug 12
    • DreamWorks easythrees
      Okay thanks. There were layoffs there today and I was wondering why.
      Aug 12
    • Symantec / Eng eYcG72
      Yes the activist investors have taken over and been laying off people. We need to increase "productivity".
      Aug 12
  • Amazon / Eng msfalg
    Speaking of rumors, is it true that there are chances of lay off anytime soon?
    Jan 17 1
    • Symantec UDMw51
      Symantec’s Standard operating procedure is to do the lay-off the last Wednesday of the month.

      I would expect the next (major) lay-off to come on 1/30 or 2/27.

      Let the fun continue.
      Jan 25
  • Symantec / Eng eYcG72
    Well the activist investors got their way and installed Rick Hill as CEO. They did the same at a semiconductor company before. Had feeling this would happen. Looks like we are in for more cost cutting and layoffs.
    May 15 0
  • Symantec 3310
    Shell game high up, rumors the new board members not happy with executive team. They removed Pres/COO and that was once a rumor....
    Jan 17 0
  • Thomson Reuters lRFf12
    Wonder if all the execs leaving last week is related
    Dec 3, 2018 0
  • Symantec YQFu06
    They made a filing the other day asking for extension until end of October to file their financials
    Jun 29, 2018 0
  • Amazon / Eng msfalg
    And what about Symantec stocks? I thought it’d recover faster.
    Jun 28, 2018 0
  • New Beeswax
    What’s the latest here?
    Jun 28, 2018 0
  • Symantec YQFu06
    Has anyone heard any update on it ? Seems airtight
    Jun 5, 2018 0
  • Intuit vp46
    Blue coat execs screwed over Symc execs - the devil is in the details re: “merger”. Reality is the execs and the board quite literally screwed over the broader population in favor of exec comp. No arguing it. It’s Greed rearing it’s ugly head at the detriment of “the workers”.

    That’s the term a symc board member and ex-cfo of bectel used verbatim.... in a condescending voice this exact sentence:

    “oh, you are the first “worker” I’ve met here”.

    That Blue wave is going to be the end of an era for both sides.

    I’m sure more will come out soon. (I stand by my statement re: potential for tax fraud)
    Jun 5, 2018 0
  • Intuit vp46
    That’s better than the tax fraud rumor.
    May 26, 2018 0
  • Symantec / Eng eYcG72
    May 26, 2018 0
  • Intuit vp46
    Curious if it doesn’t have something to do with the potential for Tax fraud. Is it possible there was a large cash horde overseas and they sorted a way to avoid tax penalties of bringing that badly needed cash back home?

    Could the bluecoat merger/acquisition/takeover play a part?
    Did bluecoat have a horde of liabilities they needed to pay overseas?

    Maybe they didn’t disclose to the SEC exactly why they pursued that merger.....

    Should be fun to see what exactly the story is.
    May 24, 2018 0