Kahn Swick & Foti Urges Symbotic Investors to Act Before Class Action Deadline

Investor Alert: Symbotic Class Action Lawsuit

In a significant development for investors of Symbotic Inc. (NASDAQ: SYM), former Louisiana Attorney General Charles C. Foti, Jr. and the law firm Kahn Swick & Foti, LLC (KSF) are calling attention to an impending deadline for those who have experienced financial losses in their investments in the company.

Deadline to File: February 3, 2025

Investors who incurred losses exceeding $100,000 from February 8, 2024, to November 26, 2024, are reminded that they have until February 3, 2025, to submit their applications to serve as lead plaintiffs in a class action lawsuit. This lawsuit is currently filed in the United States District Court for the District of Massachusetts. Those interested in exploring their rights or seeking more information are encouraged to reach out to KSF’s Managing Partner, Lewis Kahn, at 1-877-515-1850 or via email at [email protected]

The class action revolves around serious allegations against Symbotic and specific executives for failing to disclose material facts that could have significantly influenced investor decisions during the outlined period. Such failures constitute violations of federal securities laws, which are meant to protect investors from corporate misconduct.

Issue of Misrepresentation

On November 27, 2024, Symbotic revealed that it would need to restate its financial results for the fiscal year 2024 due to misreported revenue stemming from errors related to cost overruns. This revelation led to a staggering 36% drop in the company's share price, further amplifying the financial hit investors had already taken. Shares plummeted by $13.41, settling at $24 per share by the end of that trading day. This disclosure not only impacted investor confidence but also raised serious questions about management's transparency and adherence to regulatory standards.

Join the Class Action

The lawsuit, cited as Decker v. Symbotic Inc., et al., No. 24-cv-12976, allows affected investors to potentially recover their losses through collective legal action. By acting before the deadline, investors not only safeguard their rights but also contribute to holding the company accountable for its actions. KSF encourages those interested in joining the class action to consider the potential ramifications it might have regarding their financial dealings with Symbotic.

About Kahn Swick & Foti, LLC

Kahn Swick & Foti, LLC stands as one of the leading boutique law firms in the U.S. specializing in securities litigation. With a team that includes top-tier legal professionals such as Charles C. Foti, Jr., KSF has established a robust track record in representing various clients, from institutional investors to individual shareholders, aiming to recover losses resulting from corporate fraud.

Operating from multiple locations across the country—including New York, California, and New Jersey—KSF prides itself on advocacy and support for investors who have been wronged by corporate misdeeds.

For further details on the case and potential involvement, you can reach KSF through their official website. The clock is ticking, and action must be taken promptly to safeguard your rights as an investor.

In such turbulent times in the stock market, staying informed and proactive can make all the difference in your investment journey.