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].

Core Viewpoint - A securities class action lawsuit has been filed against Symbotic Inc. for allegedly making materially false and misleading statements regarding its business operations and financial reporting during the Class Period from February 8, 2024, to November 26, 2024 [1][2]. Group 1: Allegations Against Symbotic - The lawsuit claims that Symbotic improperly accelerated its revenue recognition in its financial statements for the second and third quarters of 2024 [2]. - It is alleged that the company had a material weakness in its internal controls over financial reporting [2]. - As a result of these issues, the positive statements made by the defendants about the company's business and prospects were misleading and lacked a reasonable basis [2]. Group 2: Lead Plaintiff Process - Investors in Symbotic can seek to be appointed as a lead plaintiff representative of the class by February 3, 2025, or may choose to remain absent [3]. - The lead plaintiff acts on behalf of all class members and selects counsel to represent the class [3]. - Participation as a lead plaintiff does not affect the ability to share in any recovery from the lawsuit [3]. Group 3: Contact Information - Kessler Topaz Meltzer & Check, LLP encourages investors who have suffered losses to contact them for more information [4]. - The firm has a reputation for prosecuting class actions and has recovered billions for victims of corporate misconduct [5].

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 ...

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