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]. Group 1: Lawsuit Details - The lawsuit is titled Decker v. Symbotic Inc., et al., and is pending in the U.S. District Court for the District of Massachusetts [2]. - Investors have until February 3, 2025, to request to be appointed to lead the case [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 identified errors in revenue recognition and material weaknesses in internal controls over financial reporting [4]. - The company disclosed issues related to premature expense recognition and unbillable cost overruns, which impacted system revenue recognition across multiple quarters of fiscal year 2024 [4]. - Symbotic estimated a reduction of $30–$40 million in system revenue, gross profit, and adjusted EBITDA for fiscal year 2024, and revised its revenue outlook for Q1 fiscal 2025 to $480–$500 million from $495–$515 million, with adjusted EBITDA revised to $12–16 million from $27–31 million [4]. Group 4: Market Reaction - Following the announcement of the financial issues, Symbotic's stock price declined over 35% during trading on November 27, 2024 [5].

Core Viewpoint - Investors in Symbotic Inc. have the opportunity to lead a securities fraud class action lawsuit due to substantial losses incurred as a result of alleged misleading statements and ineffective internal controls [1][3]. Summary by Relevant Sections Lawsuit Details - The lawsuit alleges that from February 8, 2024, to November 26, 2024, Symbotic failed to disclose ineffective internal controls, improperly accelerated revenue recognition, and made materially misleading statements regarding the company's business and prospects [3]. Investor Participation - Investors who suffered losses in Symbotic are encouraged to contact the Law Offices of Howard G. Smith before February 3, 2025, to participate in the ongoing class action lawsuit [2][4]. Legal Rights - Investors may choose to retain counsel or remain absent from the class action without taking any immediate action [5].

NEW YORK, Jan. 9, 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=121478&from=4 CLASS PERIOD: February 8, 2024 to November 2 ...

NEW YORK, Jan. 08, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors of the February 3, 2025, deadline to seek the role of lead plaintiff in a federal securities class action filed on behalf of investors who acquired Symbotic Inc. (“Symbotic” or the “Company”) (NASDAQ:SYM) securities during the period from February 8, 2024, to November 26, 2024 (“the Class Period”). [LEARN MORE ABOUT THE CLASS ACTION] On November 27, 2024, before the market opened, Symbotic announced it would ...

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool. ...

Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, Jan. 07, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Symbotic Inc. ("Symbotic" or the "Company") (NASDAQ: SYM) investors of a class action representing investors that bought securities between February 8, 2024 and November 26, 2024, inclusive (the "Class Period"). Symbotic investors have until February 3, 2025 to file a lead plaintiff motion. Investors are encouraged to contact attorney Lesley F. ...

Core Points - Symbotic Inc. achieved a score of 100 on the Human Rights Campaign Foundation's 2025 Corporate Equality Index, recognizing its commitment to LGBTQ+ workplace equality [1][3] - The 2025 CEI included a record 1,449 businesses, highlighting the growth of corporate policies promoting LGBTQ+ inclusion [3] - Symbotic is among 765 U.S. businesses receiving the Equality 100 Award for leadership in LGBTQ+ workplace inclusion [1] Company Commitment - The CEO of Symbotic emphasized that diversity and inclusion are foundational to the company's culture and innovation [2] - The Chief Human Resources Officer stated that the recognition reflects the company's efforts to create a respectful and appreciative workplace [4] Industry Context - The CEI rates companies based on criteria related to non-discrimination policies, equitable benefits for LGBTQ+ workers, inclusive culture, and corporate social responsibility [5][7] - A significant 98% of CEI-rated businesses have nondiscrimination protections specific to gender identity, indicating a strong trend towards inclusivity in the corporate sector [3]

WILMINGTON, Mass., Jan. 07, 2025 (GLOBE NEWSWIRE) -- Symbotic Inc. (NASDAQ:SYM), a leader in A.I.-enabled robotics technology for the supply chain, today announced that it has received a score of 100 on the Human Rights Campaign Foundation's (HRCF) 2025 Corporate Equality Index (CEI), the nation's foremost benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality. Symbotic joins the 765 U.S. businesses that will be honored with HRCF's Equality 100 Award a ...

NEW YORK, Jan. 7, 2025 /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- ...

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 ...