Press release
Investors who lost money with shares of Symbotic Inc. (NASDAQ: SYM) should contact the Shareholders Foundation in connection with Lawsuit
A lawsuit was filed on behalf of investors in Symbotic Inc. (NASDAQ: SYM) shares over alleged securities laws violations.
Investors who purchased shares of Symbotic Inc. (NASDAQ: SYM) have certain options and for certain investors are short and strict deadlines running. Deadline: October 15, 2024. NASDAQ: SYM investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Wilmington, MA based Symbotic Inc., an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. On July 29 , 2024, Symbotic Inc announced their third quarter 2024 financial results and then lowered its revenue guidance for the fourth quarter and full fiscal year 2024. Symbotic attributed their change in guidance to "schedule growth and higher labor costs during the quarter." Analysts commenting on the stock questioned when management first knew and responded to the issues.
Shares of Symbotic Inc. (NASDAQ: SYM) declined from $59.82 per share on November 28, 2023, to as low as $20.90 per share on August 12, 2024.
The plaintiff claims that between May 06, 2024 and July 29, 2024, the Defendants created the false impression that they possessed reliable information pertaining to the Company's projected earnings outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations, that in truth, SYM's optimistic reports of growth, improvements to gross margin, and overall stability of its ongoing projects fell short of reality; the Company was not equipped to timely deploy their systems or otherwise appropriately manage its expenses through project delays.
Those who purchased shares of Symbotic Inc. (NASDAQ: SYM) have certain options and should contact the Shareholders Foundation.
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 lawsuits, 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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