Faruqi & Faruqi, LLP is investigating the claims on behalf of Symbotica Investing.com investors

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Faruqi & Faruqi, LLP securities litigation partner James (Josh) Wilson encourages investors who have suffered symbolic losses of more than $100,000 to contact him directly to discuss their options

If you have suffered losses greater than $100,000 in Symbolically between February 8, 2024 and November 26, 2024 and want to discuss your legal rights, call a Faruqi & Faruqi partner Josh Wilson direct on 877-247-4292 or 212-983-9330 (ext. 1310).

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New York, New York–(Newsfile Corp. – January 1, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Symbotic Inc (NASDAQ: ). (“Symbotic” or the “Company”) (NASDAQ: SYM) and reminds investors of The deadline is February 3, 2025 to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its inception in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Symbotic improperly accelerated revenue recognition in its financial statements; reports for 2024; and (2) as a result, Defendants’ statements about Symbotic’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details came to market, the lawsuit alleges, investors suffered damages.

On November 27, 2024, before market hours, Symbotic filed a current report on Form 8-K with the SEC in which it announced that it would restate its financial results for fiscal year 2024. The report stated that Symbotic “discovered errors in the recognition of revenue related to cost overruns on certain implementations that will not be chargeable, which additionally affected system revenue, income (loss) before income tax, net income (loss) and gross margin recognized in the second, third and fourth quarters of fiscal year 2024.”

Following this news, Symbotic’s stock price fell $13.41 per share, or 36%, to $24 per share on November 27, 2024.

A court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class, who is adequate and typical of the class members and who directs and oversees the litigation on behalf of the putative class. Any putative class member may propose to the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose to do nothing and remain an absent class member. Your ability to participate in any recovery is not affected by the decision whether or not you will be the lead plaintiff.

Faruqi & Faruqi, LLP also encourages anyone with information about Symbotic’s conduct to contact the company, including whistleblowers, former employees, shareholders and others.

Advertising of lawyers. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.

To view the original version of this press release, visit https://www.newsfilecorp.com/release/235690

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