iRobot Corporation

Ticker: IRBT

Class Period Start: 08/05/2022

Class Period End: 01/26/2024

Registration Deadline: 05/07/2024

A securities class action has been filed in the USDC N.J. against iRobot Corporation (IRBT) (“iRobot” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired iRobot securities between August 5, 2022 through January 26, 2024, both dates inclusive (the “Class Period”).

 

iRobot designs, builds, and sells robots and home innovation products in the U.S., Europe, the Middle East, Africa, Japan, and internationally. The Company is primarily known for its robot vacuum cleaner (“RVC”) products sold under the “Roomba” brand name.

 

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:

 

(1) the Merger would place Amazon in a sufficiently dominant position in the market for RVCs that U.S. and European antitrust regulators were unlikely to approve the Merger;

(2) iRobot had conducted inadequate due diligence into the Merger and/or ignored significant risks weighing against the likelihood of regulatory approval;

(3) as a result of all the foregoing, iRobot overstated the likelihood for successfully completing the Merger; and

(4) as a result, the Company’s public statements were materially false and misleading at all relevant times, thereby harming investors.

 

If you purchased iRobot securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

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