SYM LEGAL DEADLINE: The Symbotic Inc. February 3 Securities Fraud Deadline is Approaching – Contact BFA Law if You Lost Money (NASDAQ:SYM)

Core Viewpoint - A lawsuit has been filed against Symbotic Inc. and its senior executives for potential violations of federal securities laws, following the company's announcement of financial discrepancies and internal control weaknesses [1][2]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the District of Massachusetts, titled Decker v. Symbotic Inc., et al., No. 24-cv-12976, with investors having until February 3, 2025, to seek lead plaintiff status [2]. - The complaint alleges violations 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 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 identified material weaknesses in internal controls over financial reporting [4]. - The company disclosed issues related to premature expense recognition and unbillable cost overruns, leading to an estimated reduction of $30–$40 million in system revenue, gross profit, and adjusted EBITDA for fiscal year 2024 [4]. - Additionally, Symbotic revised its revenue outlook for the first quarter of fiscal 2025 to $480–$500 million, down from $495–$515 million, and adjusted EBITDA to $12–16 million, down from $27–$31 million [4]. Group 4: Market Reaction - Following the announcement of these financial issues, Symbotic's stock price fell over 35% during trading on November 27, 2024 [5].