Symbotic Inc. Investors Alert: Class Action Lawsuit Notice
Symbotic Inc. Class Action Lawsuit Notification
Attention all investors of Symbotic Inc. (NASDAQ: SYM)! There is an important update regarding a class action securities lawsuit initiated to protect shareholders who may have faced financial losses.
Class Action Overview
CLASS DEFINITION: The lawsuit aims to recover losses incurred by Symbotic investors during a specified period due to what seems to be incidents of alleged securities fraud. This legal action covers the time frame of May 6, 2024 to July 29, 2024. If you believe you were impacted, there are steps you can take to get involved.
Details of the Case
CASE DETAILS: The conflict arose after Symbotic's announcement on July 29, 2024, detailing their 3Q24 financial results, which included a downward revision of revenue guidance for the fourth quarter and the full fiscal year 2024. The company cited "schedule growth and increased labor costs during the quarter" as factors prompting this revision. This news generated concerns among analysts, especially regarding the timing of management's awareness of the financial challenges ahead. Following the announcement, shares of Symbotic plummeted to around $26.36—a significant drop of approximately 25% compared to the previous close of $35.63.
Next Steps for Investors
WHAT'S NEXT? If you experienced financial loss while investing in Symbotic within the specified timeframe, you have until October 15, 2024 to request that the Court appoint you as a lead plaintiff. It is important to note that you do not need to be a lead plaintiff to participate in any recovery from the lawsuit.
No Cost Participation
NO COST TO YOU: For eligible class members, there is a potential for compensation without incurring out-of-pocket expenses or fees. Participation in the class action comes with no financial obligation.
Why Choose Levi & Korsinsky
WHY LEVI & KORSINSKY: With two decades of experience, the legal team at Levi & Korsinsky has successfully secured hundreds of millions of dollars for aggrieved shareholders. Our firm prides itself on an accomplished history in securities litigation, backed by a skilled team of over 70 professionals dedicated to client welfare. Recognized consistently in ISS Securities Class Action Services' Top 50 Report, we rally behind investors facing financial injustice.
Contact Information
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
Frequently Asked Questions
What is the class action lawsuit about?
The class action lawsuit addresses alleged securities fraud affecting Symbotic Inc. investors between May 6, 2024, and July 29, 2024.
How can I participate in the lawsuit?
If you suffered a loss during the specified time frame, you can request to be appointed as lead plaintiff by the Court by October 15, 2024.
Are there any costs to join the class action?
No, there are no out-of-pocket costs or fees for eligible investors to participate in the class action lawsuit.
Who should I contact for more information?
You can contact Levi & Korsinsky, LLP at (212) 363-7500 for further details on the lawsuit.
What is Levi & Korsinsky’s track record?
Levi & Korsinsky has secured hundreds of millions of dollars for shareholders over the past 20 years and is consistently ranked among the top securities litigation firms.
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