Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Urges Investors Suffering Losses Exceeding $100,000 In Symbol To Contact Him Directly To Discuss Their Options

If you suffer losses in excess of $100,000 in SYMBOLIC between February 8, 2024 and November 26, 2024 and want to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson direct on 877-247-4292 or 212-983-9330 (Ext. 1310).

(You can also click here for more information).

New York, New York–(Newsfile Corp. – December 25, 2024) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating a potential claim against Symbotic Inc (NASDAQ: ). (“Symbotic” or the “Company”) (NASDAQ: SYM) and reminds investors of February 3, 2025 deadline to seek the role of lead plaintiff in a federal securities class action filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding 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) Symbol that improperly accelerated revenue recognition in its 2024 financial statements; and (2) as a result, the defendants’ statements about Symbotic’s business, operations, and prospects were materially false and misleading and/or without a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claimed that 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 will return its financial results for fiscal year 2024. The report said that Symbotic “identified errors in its revenue recognition related to cost overruns in certain deployments that were not reimbursable, which also affected the revenue of system, income (loss) before income taxes, net income (loss) and gross margin recognized in the second, third, and fourth quarters of fiscal year 2024.”

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

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is substantially and generally among the class members managing and managing the litigation on behalf of the purported class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain a non-class member. Your ability to share in any recovery is not affected by the decision to serve as lead plaintiff or not.

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

Follow us for updates on LinkedIn, on X, or on Facebook (NASDAQ:).

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

To view the original version of this press release, please visit https://www.newsfilecorp.com/release/234577