SAN DIEGO, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP is investigating whether Symbotic, Inc. (Nasdaq: SYM) or any of its executive officers violated securities laws by misrepresenting or failing to timely disclose information to investors. The investigation focuses on investors’ losses and whether they may be recovered under federal securities laws.
What if I purchased Symbotic securities? If you purchased securities and suffered losses on your investment, join our investigation now: https://www.johnsonfistel.com/investigations/symbotic-inc. Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471.
There is no cost or obligation to you.
What is Johnson Fistel Investigating? Symbotic shares plummeted over 30% after the company announced plans to restate its fiscal year 2024 financial results due to revenue recognition errors and cost overruns. The restatement is expected to reduce reported revenues and adjusted EBITDA by $30-$40 million. Additionally, Symbotic delayed filing its Annual Report on Form 10-K, citing material weaknesses in internal controls, and revised its Q1 2025 revenue and adjusted EBITDA outlook downward.
What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
