-

SYMBOTIC INVESTIGATION ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates Claims On Behalf of Investors of Symbotic Inc. - SYM

NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., is investigating claims on behalf of Fund Managers and Investors of Symbotic Inc. (NasdaqGM: SYM) with losses in excess of $5 million. Such investors are advised to contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgm-sym/ to learn more.

The investigation concerns whether Symbotic and certain of its officers and/or directors have engaged in fraud, negligence or other unlawful business practices.

On November 27, 2024, pre-market, the Company disclosed that it would restate its fiscal year 2024 financial results as it had “identified errors in its revenue recognition related to cost overruns on certain deployments that will not be billable, which additionally impacted system revenue, income (loss) before income tax, net income (loss) and gross margin recognized in the second, third, and fourth quarters of fiscal year 2024.”

On this news, the price of Symbotic’s shares fell $13.41 per share, or 36%, to close at $24 per share on November 27, 2024.

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, Delaware, California, Louisiana, Chicago and New Jersey.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contacts

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163

Industry:

Kahn Swick & Foti, LLC

NASDAQ:SYM
Release Versions
English

Contacts

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163

More News From Kahn Swick & Foti, LLC

Centerspace Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Centerspace - CSR

NEW YORK CITY & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Centerspace (NYSE: CSR) to Independence Realty Trust, Inc. (NYSE: IRT). Under the terms of the proposed transaction, shareholders of Centerspace will receive 3.800 shares of Independence Realty common stock for each share of Centerspace that they own. KSF is seeking to determine whether this con...

MarineMax Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of MarineMax, Inc. - HZO

NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of MarineMax, Inc. (NYSE: HZO) to Safe Harbor Marinas. Under the terms of the proposed transaction, shareholders of MarineMax will receive $53.00 in cash for each share of MarineMax that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whe...

Bowman Consulting Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Bowman Consulting Group Ltd. - BWMN

NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Bowman Consulting Group Ltd. (NasdaqGM: BWMN) to Bernhard Capital Partners. Under the terms of the proposed transaction, shareholders of Bowman will receive $43.00 in cash for each share of Bowman that they own. KSF is seeking to determine whether this consideration and the process that led to it ar...
Back to Newsroom