A securities class action has been filed in the USDC — MA. against Symbotic, Inc. (SYM) (“Symbotic” or the “Company”), on behalf of all persons or entities that purchased or otherwise acquired Symbotic securities between May 6, 2024 and July 29, 2024, both dates inclusive (the “Class Period”).

Symbotic, Inc. develops, implements, and operates end-to-end supply chain automation technology in the United States and Canada. Symbotic automates the processing of pallets and cases in large warehouses and distribution centers, builds and operates automated warehouse systems for clients in the United States with intentions to expand to Canada and Europe.

The Complaint alleges that on July 29, 2024, Symbotic announced their 3Q24 financial results and then lowered its revenue guidance for the fourth quarter and full fiscal year 2024. Symbotic attributed their change in guidance to “schedule growth and higher labor costs during the quarter.” Analysts commenting on the stock questioned when management first knew and responded to the issues.

Following this news, Symbotic’s stock price opened at $26.36 per share or approximately 25% below the previous day’s close of $35.63 per share.

If you purchased Symbotic 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”.

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.