Symbotic (US:SYM) Prnewswireยท2025-01-12 11:30Core Viewpoint - A securities class action lawsuit has been filed against Symbotic Inc. for allegedly making materially false and misleading statements regarding its business operations and financial reporting during the Class Period from February 8, 2024, to November 26, 2024 [1][2]. Group 1: Allegations Against Symbotic - The lawsuit claims that Symbotic improperly accelerated its revenue recognition in its financial statements for the second and third quarters of 2024 [2]. - It is alleged that the company had a material weakness in its internal controls over financial reporting [2]. - As a result of these issues, the positive statements made by the defendants about the company's business and prospects were misleading and lacked a reasonable basis [2]. Group 2: Lead Plaintiff Process - Investors in Symbotic can seek to be appointed as a lead plaintiff representative of the class by February 3, 2025, or may choose to remain absent [3]. - The lead plaintiff acts on behalf of all class members and selects counsel to represent the class [3]. - Participation as a lead plaintiff does not affect the ability to share in any recovery from the lawsuit [3]. Group 3: Contact Information - Kessler Topaz Meltzer & Check, LLP encourages investors who have suffered losses to contact them for more information [4]. - The firm has a reputation for prosecuting class actions and has recovered billions for victims of corporate misconduct [5].