Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Symbotic Inc. due to allegations of improper revenue recognition and misleading statements that have led to significant investor losses [2][4]. Group 1: Legal Investigation and Claims - Faruqi & Faruqi, LLP is encouraging investors who suffered losses exceeding $100,000 in Symbotic between February 8, 2024, and November 26, 2024, to discuss their legal options [1]. - A federal securities class action has been filed against Symbotic, with a deadline of February 3, 2025, for investors to seek the role of lead plaintiff [2][6]. - The complaint alleges that Symbotic and its executives violated federal securities laws by making false statements and failing to disclose critical information regarding revenue recognition [4]. Group 2: Financial Impact and Stock Performance - On November 27, 2024, Symbotic announced it would restate its fiscal year 2024 financial results due to identified errors in revenue recognition, leading to a stock price drop of $13.41 per share, or 36%, closing at $24 per share [5]. - The restatement of financial results impacted various financial metrics, including system revenue, income before income tax, net income, and gross margin for the second, third, and fourth quarters of fiscal year 2024 [5]. Group 3: Firm Background and Contact Information - Faruqi & Faruqi, LLP is a national securities law firm with a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [3]. - The firm is also seeking information from whistleblowers, former employees, and shareholders regarding Symbotic's conduct [7].

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 ...

SAN DIEGO, Dec. 4, 2024 /PRNewswire/ -- Robbins LLP informs 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. ...

NEW YORK, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Symbotic Inc. (“Symbotic” or “the Company”) (NASDAQ: SYM) and certain of its officers. Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Symbotic securit ...

NEW YORK, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities who purchased or otherwise acquired Symbotic Inc. (“Symbotic” or the “Company”) (NASDAQ: SYM) securities between February 8, 2024 and November 26, 2024, inclusive (the “Class Period”). The lawsuit seeks to recover damages for the Company’s investors under the federal sec ...

NEW YORK, Dec. 04, 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 ...