#USA #New York #Rosen Law Firm #Securities Class Action #Symbotic Inc.

Rosen Law Firm Initiates Investigation for Symbotic Inc. Investors

The Rosen Law Firm, renowned for its advocacy of investor rights, has announced an investigation aimed at potential securities claims on behalf of shareholders of Symbotic Inc. (NASDAQ: SYM). This inquiry arises in light of allegations suggesting that Symbotic may have conveyed materially misleading business information to investors, leading to significant financial losses.

The Basis of the Investigation

On November 27, 2024, in a report to the SEC, Symbotic revealed plans to restate fiscal year 2024 financial results. It identified errors in revenue recognition arising from cost overruns on specific deployments that were deemed non-billable. This restatement will influence various financial indicators such as system revenue, income before taxation, net income, and gross margin for the second, third, and fourth quarters of FY 2024.

Following this announcement, Symbotic's stock price experienced a drastic decline, plummeting by $13.41 per share or approximately 36%, to close at $24 per share. Such substantial losses have prompted the firm to take action and enable affected investors to explore their rights under the law.

How Affected Investors Can Act

Investors who have incurred losses exceeding $100,000 due to their Symbotic stakes are advised to consider participation in a potential class action lawsuit. Importantly, participation in this class action can be undertaken without any upfront financial commitments, thanks to a contingency fee arrangement set up by the Rosen Law Firm. This means that the firm only receives compensation if the lawsuit results in a financial recovery for the investors.

To express interest or obtain more information about joining this prospective class action, potential claimants can visit Rosen's official site, reach out to Phillip Kim, Esq. toll-free at 866-767-3653, or send an email to [email protected].

The Importance of Experienced Counsel

Rosen Law Firm emphasizes the necessity for investors to select legal counsel with a robust history of success in securities class actions. Frequently, law firms that issue notifications may lack the requisite experience and recognition in this domain, potentially jeopardizing the interests of investors.

Rosen Law Firm boasts an impressive track record, having secured the largest-ever settlement in a securities class action against a Chinese company at the time. For several years, they have consistently ranked high in the number of securities class action settlements achieved and have recovered hundreds of millions of dollars on behalf of investors.

Notably, their success includes a remarkable $438 million secured for investors in 2019 alone. Furthermore, the firm’s founding partner, Laurence Rosen, has received accolades such as being designated a Titan of Plaintiffs' Bar by Law360.

Looking Ahead

For timely updates on this matter, investors are encouraged to connect with the Rosen Law Firm via their social media channels on LinkedIn, Twitter, and Facebook. The firm is dedicated to supporting investors and facilitating their pursuit of justice and compensation following significant financial adversities.

For continued updates about the Rosen Law Firm and insights into other class actions, impacted shareholders are urged to follow the firm on their social media platforms.

Contact Details:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll-Free: (866) 767-3653
Fax: (212) 202-3827
Email: [email protected]
Website: www.rosenlegal.com