SYM CLASS ACTION REMINDER: Investors with Losses on Symbotic Inc. are Encouraged to Contact BFA Law before February 3 Class Action Deadline (NASDAQ:SYM)

Core Viewpoint - Symbotic Inc. is facing a class action lawsuit due to significant errors in revenue recognition and internal control weaknesses, leading to a substantial reduction in financial outlook for fiscal year 2024 and the first quarter of fiscal 2025 [2][6][7]. Financial Impact - The company announced a $30–$40 million reduction in system revenue, gross profit, and adjusted EBITDA for fiscal year 2024 [2]. - Revenue outlook for the first quarter of fiscal 2025 was revised down to $480–$500 million from $495–$515 million, and adjusted EBITDA was reduced to $12–$16 million from $27–$31 million [2]. Legal Proceedings - A lawsuit has been filed against Symbotic and certain senior executives for potential violations of federal securities laws, specifically under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [6][7]. - Investors have until February 3, 2025, to request to lead the case, which is pending in the U.S. District Court for the District of Massachusetts [7]. Stock Market Reaction - Following the announcement of the financial discrepancies, Symbotic's stock price declined over 35% during trading on November 27, 2024 [9]. Company Overview - Symbotic Inc. specializes in developing and operating robotics systems aimed at automating and optimizing warehouse and supply chain operations for major retailers and distributors [8].