Farooqui & Farooqui, LLP Investigates Claims On Behalf Of Symbotic Investors By Investing.com

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Farooqui & Farooqui, LLP Securities Litigation Partners James (Josh) Wilson Mark encourages bankrupt investors to contact him directly to discuss their options.

If you buy or acquire securities Symbolic Between February 8, 2024 and November 26, 2024 And you want to discuss your legal rights, call Farooqui & Farooqui Partner Josh Wilson live as if 877-247-4292 Or 212-983-9330 (Ex. 1310).

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NEW YORK, NY–( The News File Corp. – Jan. 25, 2025 ) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Symbotic Inc. (NASDAQ: (“Symbiotic” or the “Company”) (NASDAQ: SYM) and reminds investors February 3, 2025 deadline To seek the role of lead plaintiff in a federal securities class action against the company.

Farooki & Farooki is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The organization Since its inception in 1995, it has returned hundreds of millions of dollars to investors. Check out 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: (1) improperly accelerated revenue recognition in the 2024 financial statements; (2) as a result, Defendants’ representations about Symbiotic’s business, operations and prospects were materially false and misleading and/or unreasonable at all material times; Investors were harmed, the suit says, when the correct listings entered the market.

In the year On November 27, 2024, before market hours, Symbotic will file a current Form 8-K report with the SEC that will restate its results for the 2024 fiscal year. The report identified errors in Symbotic’s revenue recognition that caused certain deals to be unbillable, including system revenue, pretax income (loss), net income (loss) and gross margin in the second, third and fourth quarters of fiscal 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 greatest financial interest in obtaining the relief sought by the class, who is sufficient and the class members who lead and control the litigation on behalf of the class members. Any member of the mandatory class may ask the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain as a residual class member. Your ability to participate in any recovery is not affected by the decision to serve as lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Symbiotic’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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Notice of attorney. The law firm responsible for this announcement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict similar results for any future case. We welcome the opportunity to discuss your case. All communications will be treated confidentially.

To view the source of this press release, please visit https://www.newsfilecorp.com/release/238351.