ATTENTION NASDAQ: SYM INVESTORS: Contact Berger Montague About a Symbotic Class Action Lawsuit

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].