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SAN DIEGO, Dec. 24, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a class action was filed on behalf of persons and entities that purchased or otherwise acquired Symbotic Inc. (NASDAQ: SYM) securities between February 8, 2024 and November 26, 2024. Symbotic is an automation technology company that engages in the production of a robotics and automation-based product movement technology platform. For more information, submit a form , email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Symbotic Inc. (SYM) Failed to Disclose Material Weaknesses in its Internal Control Over Financial Reporting According to the complaint, on November 27, 2024, the Company filed with the SEC a Form 8-K/A, in which the Company revealed 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." Further, the Company indicated that its previously issued financial statements for the fourth quarter and fiscal year 2024 and the Company’s supplemental presentation, should no longer be relied upon. On this news, the price of Symbotic stock fell over 35%, to close at $24 per share on November 27, 2024. What Now: You may be eligible to participate in the class action against Symbotic Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by February 3, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here . All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against Symbotic Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3edbf291-c5a4-45f0-a769-259266b2c15b
DAMASCUS, Syria (AP) — Ousted Syrian President Bashar Assad fled to Moscow on Sunday, Russian media reported, hours after a stunning rebel advance took over the capital of Damascus and ended the Assad family’s 50 years of iron rule . The Russian agencies, Tass and RIA, cited an unidentified Kremlin source on Assad and his family being given asylum in Moscow, his longtime ally and protector. The Associated Press was not immediately able to verify the reports but contacted the Kremlin for comment. RIA also said Moscow had received guarantees from Syrian insurgents of the security of Russian military bases and diplomatic posts in Syria. Assad reportedly left Syria early Sunday, and Syrians have been pouring into streets echoing with celebratory gunfire after a stunning rebel advance reached the capital, ending the Assad family’s 50 years of iron rule . The swiftly moving events have raised questions about the future of the country and the wider region. Russia has requested an emergency session of the U.N. Security Council discuss the situation in Syria, Russia’s first deputy permanent representative to the U.N., Dmitry Polyansky, posted on Telegram. Joyful crowds gathered in squares in Damascus, waving the Syrian revolutionary flag in scenes that recalled the early days of the Arab Spring uprising, before a brutal crackdown and the rise of an insurgency plunged the country into a nearly 14-year civil war. Others gleefully ransacked the presidential palace and residence after Assad and other top officials vanished. Abu Mohammed al-Golani , a former al-Qaida commander who cut ties with the group years ago and says he embraces pluralism and religious tolerance, leads the biggest rebel faction and is poised to chart the country's future. In his first public appearance since fighters entered the Damascus suburbs Saturday, al-Golani visited the sprawling Umayyad Mosque and called Assad's fall “a victory to the Islamic nation.” Calling himself by his given name, Ahmad al-Sharaa, and not his nom de guerre, he told hundreds of people that Assad had made Syria “a farm for Iran’s greed.” The rebels face the daunting task of healing bitter divisions in a country ravaged by war and still split among armed factions. Turkey-backed opposition fighters are battling U.S.-allied Kurdish forces in the north, and the Islamic State group is still active in some remote areas. Syrian state television broadcast a rebel statement early Sunday saying Assad had been overthrown and all prisoners had been released. They called on people to preserve the institutions of “the free Syrian state.” The rebels later announced a curfew in Damascus from 4 p.m. to 5 a.m. The rebels said they freed people held at the notorious Saydnaya prison, where rights groups say thousands were tortured and killed . A video circulating online purported to show rebels breaking open cell doors and freeing dozens of female prisoners, many of whom appeared shocked. At least one small child was seen among them. “This happiness will not be completed until I can see my son out of prison and know where is he,” said one relative, Bassam Masr. "I have been searching for him for two hours. He has been detained for 13 years.” Rebel commander Anas Salkhadi later appeared on state TV and sought to reassure Syria's religious and ethnic minorities, saying: “Syria is for everyone, no exceptions. Syria is for Druze, Sunnis, Alawites, and all sects.” “We will not deal with people the way the Assad family did," he added. Celebrations in the capital Damascus residents prayed in mosques and celebrated in squares, calling, “God is great.” People chanted anti-Assad slogans and honked car horns. Teenage boys picked up weapons apparently discarded by security forces and fired into the air. Revelers filled Umayyad Square, where the Defense Ministry is located. Some waved the three-starred Syrian flag that predates the Assad government and was adopted by the revolutionaries. Elsewhere, many parts of the capital were empty and shops were closed. Soldiers and police left their posts and fled, and looters broke into the Defense Ministry. Videos showed families wandering the presidential palace, some carrying stacks of plates and other household items. “It’s like a dream. I need someone to wake me up," said opposition fighter Abu Laith, adding the rebels were welcomed in Damascus with “love.” At the Justice Ministry, where rebels stood guard, Judge Khitam Haddad said they were protecting documents from the chaos. Outside, some residents sought information about relatives who disappeared under Assad. The rebels “have felt the pain of the people,” said one woman, giving only her first name, Heba. She worried about possible revenge killings by the rebels, many of whom appeared to be underage. Syria’s al-Watan newspaper, which was historically pro-government, wrote: “We are facing a new page for Syria. We thank God for not shedding more blood.” It added that media workers should not be blamed for publishing past government statements, saying it “only carried out the instructions.” A statement from the Alawite sect that has formed the core of Assad's base called on young Syrians to be “calm, rational and prudent and not to be dragged into what tears apart the unity of our country.” The rebels mainly come from the Sunni Muslim majority in Syria, which also has sizable Druze, Christian and Kurdish communities. In Qamishli in the northeast, a Kurdish man slapped a statue of the late leader Hafez Assad with his shoe. Syrian Prime Minister Mohammed Ghazi Jalali said the government was ready to “extend its hand” to the opposition and turn its functions over to a transitional government. A video shared on Syrian opposition media showed armed men escorting him from his office and to the Four Seasons hotel on Sunday. Anwar Gargash said Assad's destination at this point is a “footnote in history,” comparing it to the long exile of German Kaiser Wilhelm II after World War I. Calls for an orderly transition The rebel advances since Nov. 27 were the largest in recent years, and saw the cities of Aleppo, Hama and Homs fall within days as the Syrian army melted away. Russia, Iran and Lebanon's Hezbollah militant group, which provided crucial support to Assad throughout the uprising, abandoned him as they reeled from other conflicts. The end of Assad’s rule was a major blow to Iran and its allies, already weakened by conflict with Israel . Iran, which had strongly backed him throughout the civil war, said Syrians should decide their future “without destructive, coercive, foreign intervention.” The Iranian Embassy in Damascus was ransacked after apparently having been abandoned. Prime Minister Benjamin Netanyahu meanwhile said Israeli troops had seized a buffer zone in the Golan Heights established in 1974, saying it was to protect Israeli residents after Syrian troops abandoned positions. Israel's military later warned residents of five southern Syria communities to stay home for their safety, and didn’t respond to questions. Israel captured the Golan in the 1967 Mideast war and later annexed it. The international community, except for the United States, views it as occupied, and the Arab League on Sunday condemned what it called Israel’s efforts to take advantage of Assad’s downfall occupy more territory. The rebels are led by the Hayat Tahrir al-Sham group, or HTS , which has its origins in al-Qaida and is considered a terrorist organization by the United States and the United Nations. Al-Golani, has sought to recast the group as a moderate and tolerant force. “Golani has made history and sparked hope among millions of Syrians," said Dareen Khalifa, a senior adviser with the International Crisis Group. "But he and the rebels now face a formidable challenge ahead.” The U.N.’s special envoy for Syria, Geir Pedersen, called Saturday for urgent talks in Geneva to ensure an “orderly political transition.” The Gulf nation of Qatar, a key regional mediator, hosted an emergency meeting of foreign ministers and top officials from eight countries with interests in Syria late Saturday. They included Iran, Saudi Arabia, Russia and Turkey. Majed al-Ansari, Qatar’s Foreign Ministry spokesman, said they agreed on the need “to engage all parties on the ground," including the HTS, and that the main concern is “stability and safe transition.” Sewell reported from Beirut. Associated Press writers Bassem Mroue, Sarah El Deeb and Kareem Chehayeb in Beirut; Samar Kassaballi, Omar Sanadiki and Ghaith Alsayed in Damascus; Jon Gambrell in Manama, Bahrain; Josef Federman in Doha, Qatar; and Tia Goldenberg in Jerusalem, contributed.