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Deadline on Dec. 23rd coming up in Lawsuit that was filed for Investors in iRobot Corporation (NASDAQ: IRBT)

12-11-2019 07:37 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A Deadline is coming up on December 23, 2019 in the lawsuit for certain investors in iRobot Corporation (NASDAQ: IRBT).

A Deadline is coming up on December 23, 2019 in the lawsuit for certain investors in iRobot Corporation (NASDAQ: IRBT).

A deadline is coming up on December 23, 2019 in the lawsuit filed for certain investors of iRobot Corporation (NASDAQ: IRBT) over alleged securities laws violations by iRobot Corporation.

Investors who purchased shares of iRobot Corporation (NASDAQ: IRBT) have certain options and there are strict and short deadlines running. Deadline: December 23, 2019. NASDAQ: IRBT stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges on behalf of purchasers of iRobot Corporation (NASDAQ: IRBT) common shares between November 21, 2016 and October 22, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between November 21, 2016 and October 22, 2019, iRobot reported explosive, double-digit revenue growth, which it attributed to increasing demand for its Roomba products, expanded gross margin due to distributor acquisitions, greater brand awareness and technological innovation, while in reality, iRobot was engaging in channel-stuffing in order to inflate its sales and revenues figures, and had acquired two of its largest distributors in order to facilitate and conceal this deceptive practice.

The plaintiff says that as a result of these misrepresentations, iRobot shares traded at artificially inflated prices between November 21, 2016 and October 22, 2019.

Those who purchased shares of iRobot Corporation (NASDAQ: IRBT) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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