Symbotic (SYM)

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Symbotic Names Dr. James Kuffner as Chief Technology Officer
Newsfilter· 2025-01-06 21:00
WILMINGTON, Mass., Jan. 06, 2025 (GLOBE NEWSWIRE) -- Symbotic Inc. (NASDAQ:SYM), a leader in A.I.-enabled robotics technology for the supply chain, today announced the appointment of Dr. James Kuffner as Chief Technology Officer (CTO), effective January 1, 2025, in line with the retirement of George Dramalis, Symbotic's former CTO. In his new role, Kuffner will be responsible for continuing to advance Symbotic's technologies and solutions to drive Symbotic's strategic long-term growth. "James has more than ...
Symbotic (SYM) Restates Financials, Faces Scrutiny Amid Accounting Concerns - Hagens Berman
Prnewswire· 2025-01-06 20:55
SAN FRANCISCO, Jan. 6, 2025 /PRNewswire/ -- Symbotic Inc. (NASDAQ: SYM), a Wilmington, Mass.-based automation technology company, has filed restated financial statements for three fiscal 2024 quarters, revealing significant errors in its previously reported revenue and profitability figures. The restatements, filed on December 4, follow the revelation of accounting errors last month and come as the company faces a securities fraud class action lawsuit.Hagens Berman has opened an investigation and urges inve ...
The Gross Law Firm Reminds Shareholders of a Lead Plaintiff Deadline of February 3, 2025 in Symbotic Inc. Lawsuit - SYM
Prnewswire· 2025-01-06 10:45
NEW YORK, Jan. 6, 2025 /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=120453&from=4CLASS PERIOD: February 8, 2024 to November 26 ...
SYM LAWSUIT DEADLINE: BFA Law Alerts Symbotic Inc. Investors of Imminent February 3 Class Action Deadline – Contact the Firm if You Lost Money (NASDAQ:SYM)
GlobeNewswire News Room· 2025-01-05 14:20
Core Viewpoint - A lawsuit has been filed against Symbotic Inc. and its senior executives for potential violations of federal securities laws, following significant financial reporting issues that led to a substantial decline in stock price [1][2][5]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the District of Massachusetts, captioned Decker v. Symbotic Inc., et al., No. 24-cv-12976, with investors having until February 3, 2025, to seek lead plaintiff status [2]. - Claims are made 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 Reporting 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 material weaknesses in internal controls over financial reporting [4]. - The company identified issues related to premature expense recognition and unbillable cost overruns, leading to an estimated $30–$40 million reduction in system revenue, gross profit, and adjusted EBITDA for fiscal year 2024 [4]. - Revenue outlook for the first quarter of fiscal 2025 was revised down to $480–$500 million from $495–$515 million, and adjusted EBITDA was reduced to $12–16 million from $27–31 million [4]. Group 4: Market Reaction - Following the announcement of the financial reporting issues, Symbotic's stock price declined over 35% during trading on November 27, 2024 [5].
SYM Announcement: Contact Kessler Topaz Meltzer & Check, LLP About the Securities Fraud Class Action Lawsuit Filed Against Symbotic Inc.
Prnewswire· 2025-01-04 20:27
RADNOR, Pa., Jan. 4, 2025 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Symbotic Inc. ("Symbotic") (NASDAQ: SYM) on behalf of those who purchased or otherwise acquired Symbotic securities between February 8, 2024, and November 26, 2024, inclusive (the "Class Period"). The lead plaintiff deadline is February 3, 2025.CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:If you suffered Symbotic losses, you ...
SYM CLASS ACTION REMINDER: Investors with Losses on Symbotic Inc. are Encouraged to Contact BFA Law before February 3 Class Action Deadline (NASDAQ:SYM)
GlobeNewswire News Room· 2024-12-30 13:22
Core Viewpoint - Symbotic Inc. is facing a class action lawsuit due to significant errors in revenue recognition and internal control weaknesses, leading to a substantial reduction in financial outlook for fiscal year 2024 and the first quarter of fiscal 2025 [2][6][7]. Financial Impact - The company announced a $30–$40 million reduction in system revenue, gross profit, and adjusted EBITDA for fiscal year 2024 [2]. - Revenue outlook for the first quarter of fiscal 2025 was revised down to $480–$500 million from $495–$515 million, and adjusted EBITDA was reduced to $12–$16 million from $27–$31 million [2]. Legal Proceedings - A lawsuit has been filed against Symbotic and certain senior executives for potential violations of federal securities laws, specifically under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [6][7]. - Investors have until February 3, 2025, to request to lead the case, which is pending in the U.S. District Court for the District of Massachusetts [7]. Stock Market Reaction - Following the announcement of the financial discrepancies, Symbotic's stock price declined over 35% during trading on November 27, 2024 [9]. Company Overview - Symbotic Inc. specializes in developing and operating robotics systems aimed at automating and optimizing warehouse and supply chain operations for major retailers and distributors [8].
The Gross Law Firm Reminds Symbotic Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of February 3, 2025 - SYM
Prnewswire· 2024-12-30 10:45
Core Viewpoint - The Gross Law Firm has announced a class action lawsuit against Symbotic Inc. for allegedly issuing materially false and misleading statements regarding its financial practices, specifically related to revenue recognition in its 2024 financial statements [2][4]. Group 1: Allegations and Class Period - The complaint alleges that Symbotic improperly accelerated revenue recognition, leading to materially false statements about the company's business and prospects [2]. - The class period for the lawsuit is defined as February 8, 2024, to November 26, 2024 [4]. Group 2: Next Steps for Shareholders - Shareholders who purchased shares of SYM during the class period are encouraged to register for the class action and will be enrolled in a portfolio monitoring software for updates [3]. - The deadline for shareholders to seek lead plaintiff status is February 3, 2025, with no cost or obligation to participate in the case [3][5]. Group 3: Firm's Commitment - The Gross Law Firm is dedicated to protecting investors' rights and ensuring companies adhere to responsible business practices, seeking recovery for losses incurred due to misleading statements [4].
SYM DEADLINE NOTICE: ROSEN, SKILLED INVESTOR COUNSEL, Encourages Symbotic Inc. Investors to Secure Counsel Before Important February 3 Deadline in Securities Class Action First Filed by the Firm – SYM
GlobeNewswire News Room· 2024-12-29 18:51
NEW YORK, Dec. 29, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Symbotic Inc. (NASDAQ: SYM) between February 8, 2024 and November 26, 2024, both dates inclusive (the “Class Period”), of the important February 3, 2025 lead plaintiff deadline in the securities class action first filed by the Firm. SO WHAT: If you purchased Symbotic securities during the Class Period you may be entitled to compensation without payment of any out of pocket ...
Symbotic Inc. (SYM) Investors: February 3, 2025 Filing Deadline in Securities Class Action - Contact Kessler Topaz Meltzer & Check, LLP
Prnewswire· 2024-12-27 15:15
RADNOR, Pa., Dec. 27, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Symbotic Inc. ("Symbotic") (NASDAQ: SYM) on behalf of those who purchased or otherwise acquired Symbotic securities between February 8, 2024, and November 26, 2024, inclusive (the "Class Period"). The lead plaintiff deadline is February 3, 2025.CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:If you suffered Symbotic losses, yo ...
Levi & Korsinsky Reminds Symbotic Inc. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of February 3, 2025 - SYM
Prnewswire· 2024-12-27 10:45
NEW YORK, Dec. 27, 2024 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Symbotic Inc. ("Symbotic" or the "Company") (NASDAQ: SYM) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Symbotic investors who were adversely affected by alleged securities fraud between February 8, 2024 and November 26, 2024. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/symbotic-lawsuit-submission-form ...