SAN DIEGO, Jan. 16, 2025 /PRNewswire/ -- Robbins LLP reminds investors that a class action was filed on behalf of persons and entities that purchased or otherwise acquired Symbotic Inc. (NASDAQ: SYM) securities between February 8, 2024 and November 26, 2024. Symbotic is an automation technology company that engages in the production of a robotics and automation-based product movement technology platform.For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003 ...

SYM COURT NEWS: Symbotic Inc. Sued for Securities Fraud – Investors that Lost Money are Urged to Contact BFA Law before February 3 Deadline ...

Stock Performance - Symbotic stock surged 20 7% as of 2 p m ET and had been up as much as 24 6% earlier in the trading session [1] Deal Details - Symbotic will acquire Walmart's robotics division for at least $200 million with potential additional payments of up to $350 million [2] - Walmart plans to purchase systems for 400 accelerated-pickup-and-delivery centers (APDs) over a multiyear period [3] - Walmart will pay Symbotic a total of $520 million with $230 million paid upon the closing of the deal [3] Strategic Implications - The deal strengthens the relationship between Symbotic and Walmart which is already Symbotic's largest customer [2] - The acquisition removes the possibility of Walmart developing its own automation and robotics systems reducing competitive risk for Symbotic [5] - Symbotic stands to generate more revenue than the initial purchase price indicating a favorable financial outcome [4] Growth Outlook - The deal signals a promising growth outlook for Symbotic as Walmart is likely to pursue massive automation initiatives over the next decade [5]

Walmart and Symbotic announced a deal Tuesday that would find the Massachusetts robotics firm taking control of the mega-retailer’s automation business. Symbotic is paying $200 million in cash for the program, plus up to $350 million in “additional contingent consideration,” depending on how the deal shakes out.The relationship is more partnership than straight acquisition, however, massively bolstering Symbotic’s longtime position as a key Walmart technology supplier. As part of the deal, Walmart is paying ...

Key TakeawaysSymbotic and Walmart announced a pair of new deals Thursday that will see the robotics company and retail giant expand their partnership.Symbotic will buy Walmart's Advanced Systems and Robotics business for $200 million.Meanwhile, Walmart will pay $520 million to fund the development of a new automation system to potentially use in hundreds of its stores. Shares of robotics company Symbotic (SYM) jumped about 20% Thursday morning after the company announced an expanded partnership with Walmart ...

The Schall Law Firm Invites Shareholders With Losses To Join A Securities Fraud Case Against Symbotic Inc ...

Core Viewpoint - Symbotic Inc. has agreed to acquire Walmart's Advanced Systems and Robotics business, enhancing their long-term partnership and aiming to develop an integrated automated supply chain [1][4]. Group 1: Acquisition Details - The total consideration for the acquisition is $200 million in cash at closing, with up to $350 million in additional contingent consideration based on future orders of Automated Pickup and Delivery (APD) systems [3]. - Walmart will pay Symbotic a total of $520 million for a development program to enhance online pickup and delivery systems, including $230 million at closing [2][3]. Group 2: Market Impact - The transaction could increase Symbotic's future backlog by more than $5 billion and expand its addressable market by over $300 billion in the U.S. [3]. - Walmart's store-fulfilled deliveries grew nearly 50% year-over-year, surpassing a $2.5 billion monthly run rate during the quarter ended October 31, 2024 [5]. Group 3: Strategic Importance - This acquisition allows Symbotic to extend its product offerings beyond traditional warehouse settings to eCommerce, enhancing last-mile delivery capabilities [4][9]. - Symbotic has been instrumental in automating Walmart's supply chain since 2017, deploying its technology across all 42 of Walmart's regional distribution centers in the U.S. [5].

Walmart has selected Symbotic to develop, build and deploy an advanced solution that automates its Accelerated Pickup and Delivery centers (“APDs”), with an initial order covering hundreds of stores.Acquisition adds new product category for Symbotic to address opportunity for automated fulfillment of customer orders at the local and store level, supporting the growth of eCommerce. Agreement could add more than $5 billion to Symbotic’s future backlog. WILMINGTON, Mass., Jan. 16, 2025 (GLOBE NEWSWIRE) -- Sym ...

NEW YORK, Jan. 15, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Symbotic Inc. (NASDAQ: SYM) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Symbotic, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/symbotic-inc. Investors have until February 3, 2025, to ask the Court to be appointed to lead th ...

Core Viewpoint - A class action securities lawsuit has been filed against Symbotic Inc. alleging securities fraud related to improper revenue recognition in its 2024 financial statements [1][2]. Group 1: Lawsuit Details - The lawsuit seeks to recover losses for investors affected by alleged securities fraud between February 8, 2024, and November 26, 2024 [1]. - The complaint claims that Symbotic made false statements and concealed information regarding the acceleration of revenue recognition, leading to materially false and misleading statements about the company's business and prospects [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until February 3, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and is recognized as one of the top securities litigation firms in the United States [4].