STOCKHOLDER ALERT: Kaskela Law LLC Announces Investigation of iRobot Corp. (IRBT) and Encourages Long-Term Investors to Contact the Firm

PHILADELPHIA--(BUSINESS WIRE)--Kaskela Law LLC announces that it is investigating iRobot Corp. (NASDAQ: IRBT) (“iRobot”) on behalf of the company’s long-term investors.

Recently a securities fraud complaint was filed against iRobot on behalf of certain investors who purchased shares of the company’s stock between August 5, 2022 and January 26, 2024. According to the complaint, during that time period iRobot and certain of the company’s senior executive officers made a series of materially false and misleading statements concerning the company’s pending acquisition by Amazon.com, Inc. (“Amazon”).

During January 2024, iRobot’s shares significantly declined in value – from over $38.00 per share to approximately $15.00 per share – after (i) The Wall Street Journal reported that “[t]he European Union’s competition watchdog intends to block Amazon’s $1.7 billion bid to purchase Roomba maker iRobot” and (ii) Bloomberg reported that the U.S. Federal Trade Commission was drafting a lawsuit to block the Merger.

Subsequently, on January 29, 2024, Amazon and iRobot announced their entry “into a mutual agreement” to terminate the previously announced merger. Concurrently, iRobot announced the resignation of its Chief Executive Officer and Chairman, and the company’s plans to cut approximately 31% of its workforce.

The investigation seeks to determine whether the members of iRobot’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.

iRobot shareholders who purchased or acquired their IRBT shares on or prior to August 22, 2023 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750 or (888) 715 – 1740, or by email ([e-mail] / [e-mail]) or online at https://kaskelalaw.com/cases/irobot-corp/, for additional information about this investigation and their legal rights and options.

Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.