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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).
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.
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 fill out the form on this page.
The case is Miramar Firefighters’ Pension Fund v. iRobot Corporation, et al., 1:19-cv-09837. Click here to read the case complaint.