NEW YORK, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Symbotic Inc. (“Symbotic” or the “Company”) (NASDAQ: SYM) between May 06, 2024 - Jul 29, 2024, both dates inclusive. You are hereby notified that the class action lawsuit Virginia L. Fox v. Symbotic Inc., et al. (Case No. 1:24-cv-12090) has been commenced in the United States District Court for the District of Massachusetts. To get more information go to:
https://zlk.com/pslra-1/symbotic-lawsuit-submission-form
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.
According to the complaint, on July 29, 2024, Symbotic announced their 3Q24 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.
Following this news, Symbotic’s stock price opened at $26.36 per share or approximately 25% below the previous day’s close of $35.63 per share.
If you suffered a loss in SYM securities, you have until October 15, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
