Symbotic (SYM) Growth And Expenses Issues Case

D. Massachusetts

Court

1:24-cv-12090

Case number

05/06/2024

Class period Start

07/29/2024

Class period End

10/15/2024

Lead Plaintiff motion deadline

$SYM stockholders filed a claim against Symbotic for misleading them about its growth and expenses.
After the financial results on July 29, 2024, $SYM fell by 25%.
Symbotic investors can join this case to be notified about potential recovery.
Case Details:

On July 29, 2024, Symbotic released its third-quarter results, which missed expectations due to lower-than-expected gross margins. 

The company's adjusted EBITDA came in at $15 million, falling $13 million short of its earlier forecast, a drop of over 46%.

Symbotic blamed the cut on slower growth and increased labor costs during the quarter.

Following this news, $SYM fell by more than 25%.

Based on these events, a $SYM stockholder filed a claim against Symbotic and its leaders, accusing them of the following:
Symbotic’s reports of growth and stability didn’t match the reality. 
The company struggled to manage delays and control costs effectively.
Considering all the representations, investors suspect Symbotic misled them about the growth and expense management.

Case Status

Lead Plaintiff Submission

Alleged Offence

Mismanagement,

Misleading Statements,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

07/29/2024

Filing date

08/14/2024

Lead Plaintiff Deadline

10/15/2024

Judge

M. Page Kelley

Symbotic (SYM) Growth And Expenses Issues Case

Collecting participants…