NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 23, 2019 to file lead plaintiff applications in a securities class action lawsuit against iRobot Corporation (NasdaqGS: IRBT), if they purchased the Company’s shares between November 21, 2016 and October 22, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of iRobot and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-irbt/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 23, 2019.
About the Lawsuit
iRobot and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 22, 2019, post-market, the Company disclosed disappointing 3Q2019 financial results including cuts to the high end of its annual revenue forecast, from $1.25 billion to $1.21 billion; a roll back of price increases after a “suboptimal” customer response, and continuing significant increases of inventory levels.
On this news, the price of iRobot’s shares fell from $54.03 per share on October 22, 2019, to $49.06 per share on October 23, 2019 on unusually high trading volume.
The case is Miramar Firefighters' Pension Fund v. iRobot Corporation, et al., 1:19-cv-09837.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.