Core Viewpoint - A lawsuit has been filed against Symbotic Inc. and its senior executives for potential violations of federal securities laws, following the company's announcement of financial discrepancies and internal control weaknesses [1][2]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the District of Massachusetts, titled Decker v. Symbotic Inc., et al., No. 24-cv-12976, with investors having until February 3, 2025, to seek lead plaintiff status [2]. - The complaint alleges violations under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Symbotic securities [2]. Group 2: Company Background - Symbotic Inc. specializes in developing and operating robotics systems aimed at automating and optimizing warehouse and supply chain operations for major retailers and distributors [3]. Group 3: Financial Issues - On November 27, 2024, Symbotic announced a delay in filing its Form 10-K for fiscal year 2024 due to errors in revenue recognition and identified material weaknesses in internal controls over financial reporting [4]. - The company disclosed issues related to premature expense recognition and unbillable cost overruns, leading to an estimated reduction of $30–$40 million in system revenue, gross profit, and adjusted EBITDA for fiscal year 2024 [4]. - Additionally, Symbotic revised its revenue outlook for the first quarter of fiscal 2025 to $480–$500 million, down from $495–$515 million, and adjusted EBITDA to $12–16 million, down from $27–$31 million [4]. Group 4: Market Reaction - Following the announcement of these financial issues, Symbotic's stock price fell over 35% during trading on November 27, 2024 [5].

Core Viewpoint - Investors have until February 3, 2025, to file lead plaintiff applications in a securities class action lawsuit against Symbotic Inc. for failing to disclose material information during the class period from February 8, 2024, to November 26, 2024 [1][3]. Group 1: Lawsuit Details - The lawsuit alleges that Symbotic and certain executives violated federal securities laws by not disclosing material information during the class period [3]. - The case is identified as Decker v. Symbotic Inc., et al., No. 24-cv-12976 [5]. Group 2: Financial Impact - On November 27, 2024, Symbotic announced it would restate its fiscal year 2024 financial results due to errors in revenue recognition, which affected various financial metrics including system revenue and gross margin [4]. - Following this announcement, Symbotic's share price dropped by $13.41, or 36%, closing at $24 per share on the same day [4]. Group 3: ClaimsFiler Information - ClaimsFiler is a service that assists retail investors in recovering funds from securities class action settlements, providing resources for filing claims and legal evaluations [6]. - Investors can register for free on ClaimsFiler.com to access information about various securities class action cases [6].

Core Viewpoint - The Symbotic Inc. class action lawsuit alleges that the company and its executives made misleading statements regarding revenue recognition, leading to significant financial losses for investors during the specified class period [3][4]. Group 1: Class Action Lawsuit Details - The class action lawsuit is titled Decker v. Symbotic Inc., and it involves purchasers of Symbotic's publicly traded securities from February 8, 2024, to November 26, 2024 [1]. - Investors have until February 3, 2025, to seek appointment as lead plaintiff in the lawsuit [1]. - The lawsuit claims that Symbotic improperly accelerated its revenue recognition, which misled investors [3]. Group 2: Financial Impact and Company Disclosure - On November 27, 2024, Symbotic disclosed errors in its revenue recognition related to non-billable cost overruns, affecting its financial statements for the second, third, and fourth quarters of fiscal year 2024 [4]. - Following this disclosure, Symbotic's stock price fell nearly 36% [4]. Group 3: Lead Plaintiff Process - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Symbotic securities during the class period to seek lead plaintiff status [5]. - The lead plaintiff represents the interests of all class members and can select a law firm for litigation [5]. Group 4: About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud cases, having recovered $6.6 billion for investors in class action cases [6]. - The firm has been ranked 1 in securing monetary relief for investors in six out of the last ten years [6].

Core Insights - Symbotic Inc. has completed the acquisition of OhmniLabs, enhancing its capabilities in A.I.-enabled robotics for supply chain and healthcare applications [1][2] - The acquisition aims to combine Symbotic's large-scale automation expertise with OhmniLabs' innovative mobile robots and A.I. solutions, facilitating advancements in automation across various sectors [2][3] Company Overview - Symbotic is a leader in automation technology, focusing on reimagining the supply chain through an A.I.-powered robotic and software platform [4] - The company transforms warehouses into strategic assets for major retail, wholesale, and food & beverage companies, utilizing next-generation technology and machine learning to address complex distribution challenges [4] OhmniLabs Overview - Founded in 2015, OhmniLabs specializes in robotics solutions for healthcare, known for its autonomous disinfection and telepresence robots [2][3] - The company has developed a fully in-house model for rapid innovation and speed-to-market in robotics solutions [2]

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Symbotic To Contact Him Directly To Discuss Their OptionsIf you suffered losses exceeding $100,000 in Symbotic between February 8, 2024 and November 26, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).[You may also click here for additional information].NEW YORK, Dec. 12, 2024 /PRN ...

Core Viewpoint - A securities class action lawsuit has been filed against Symbotic, Inc. for allegedly making false statements and failing to disclose issues related to revenue recognition during the Class Period from February 8, 2024, to November 26, 2024 [1][3]. Company Overview - Symbotic, Inc. is an automation technology company based in Wilmington, Massachusetts, specializing in robotics and product-movement technology [3]. Lawsuit Details - The lawsuit claims that Symbotic improperly accelerated revenue recognition in its 2024 financial statements, indicating inadequate internal controls over financial reporting [3]. - On November 27, 2024, Symbotic revealed errors in its revenue recognition due to cost overruns on certain deployments that would not be billable, affecting various financial metrics for the second, third, and fourth quarters of fiscal year 2024 [4]. - Following this disclosure, Symbotic's shares dropped by $13.41, or 35%, closing at $24.00 on November 27, 2024 [4]. Investor Participation - Investors who acquired Symbotic securities during the Class Period can seek to be appointed as lead plaintiff representatives by February 3, 2025 [2]. - A lead plaintiff acts on behalf of all class members and selects counsel to represent the class [5]. Legal Representation - Berger Montague, the firm handling the lawsuit, has a long history in securities class action litigation and represents both individual and institutional investors [6].

NEW YORK, Dec. 12, 2024 (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 ...

NEW YORK, Dec. 12, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Symbotic Inc. (NASDAQ: SYM).Shareholders who purchased shares of SYM during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/symbotic-loss-submission-form-2/?id=115957&from=4CLASS PERIOD: February 8, 2024 to November 2 ...

Symbotic Inc. (SYM) closed the latest trading day at $26.68, indicating a -0.3% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.82% for the day. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 1.77%.The the stock of company has fallen by 22.03% in the past month, lagging the Business Services sector's gain of 2.43% and the S&P 500's gain of 0.8%.Analysts and investors alike will be keeping a close eye on the performance of Symbotic I ...

Symbiotic Inc. (SYM) shares have plunged 47.9% in the year-to-date period against the 58.8% rally of its industry and the 29.1% rise in the Zacks S&P 500 Composite.YTD Price PerformanceImage Source: Zacks Investment ResearchThe stock is trading below its 50-day moving average, indicating bearish sentiment among investors.Stock Trades Below 50-SMAImage Source: Zacks Investment ResearchSYM’s performance underperforms its close competitors, IDEX Corporation (IEX) and Pentair plc (PNR) . IEX and PNR shares have ...