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Submit Your Information for the Symbotic Lawsuit

Lead plaintiff deadline is February 3, 2025.

If you purchased or acquired Symbotic securities between February 8, 2024 through November 26, 2024, please contact Berger Montague using the form below.

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About the Lawsuit

According to the lawsuit, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that Symbotic improperly accelerated revenue recognition in its 2024 financial statements and thus its internal controls over financial reporting were inadequate.

Investors learned the truth on November 27, 2024, when Symbotic disclosed that it had “identified errors in its revenue recognition related to cost overruns on certain deployments that will not be billable.” This failure of internal controls over financial reporting, according to the Company, had impacted 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.”

On this news, shares of Symbotic fell $13.41 per share, or 35%, to close at $24.00 on November 27, 2024.

Investors who purchased or acquired Symbotic securities between February 8, 2024 through November 26, 2024, may no later than February 3, 2025, seek to be appointed as a lead plaintiff representative of the class.