SYM CLASS ACTION ALERT: Symbotic Inc. Investors that Lost Money may have been Affected by Fraud – Contact BFA Law by February 3 Legal Deadline (NASDAQ:SYM)

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].