NEW YORK CITY, NY / ACCESSWIRE / November 27, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Symbotic Inc. ("Symbotic" or "the Company") (NASDAQ:SYM). Investors who purchased Symbotic securities are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: bgandg.com/SYM.
Investigation Details
On November 27, 2024, Symbotic announced that it would restate its fiscal year 2024 financial results after discovering serious errors in revenue recognition and cost overruns, and admitted that it expects reducing revenues and adjusted EBITDA by $30-$40 million. Symbotic also said that it would delay filing its Annual Report on Form 10-K due to material weaknesses in internal controls, and lowered its revenue and adjusted EBITDA outlook for the first quarter of 2025. Following this news, Symbotic stock dropped more than 38% during morning trading on that same day.
What’s Next?
If you are aware of any facts relating to this investigation or purchased Symbotic securities, you can assist this investigation by visiting the firm’s site: bgandg.com/SYM. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
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Contact
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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COMTEX_460251047/2457/2024-11-27T17:00:44