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SAN DIEGO, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Symbotic Inc. SYM publicly traded securities between February 8, 2024 and November 26, 2024, inclusive (the "Class Period"), have until February 3, 2025 to seek appointment as lead plaintiff of the Symbotic class action lawsuit. Captioned Decker v. Symbotic Inc. , No. 24-cv-12976 (D. Mass.), the Symbotic class action lawsuit charges Symbotic and certain of Symbotic's top executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Symbotic class action lawsuit, please provide your information here: https://www.rgrdlaw.com/cases-symbotic-class-action-lawsuit-sym.html You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com . CASE ALLEGATIONS : Symbotic is an automation technology company that engages in developing technologies to improve operating efficiencies in modern warehouses. The Symbotic class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that Symbotic had improperly accelerated its recognition of revenue. The Symbotic class action lawsuit further alleges that on November 27, 2024, Symbotic disclosed that it "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," "identified in its preliminary assessment of internal control over financial reporting for the fiscal year ended September 28, 2024 certain material weaknesses," and Symbotic's "previously issued financial statements for those periods, including the financial information included in [Symbotic]'s earnings press release for the fourth quarter and fiscal year 2024 and [Symbotic]'s supplemental presentation, should therefore no longer be relied upon." On this news, the price of Symbotic stock fell nearly 36%, according to the complaint. THE LEAD PLAINTIFF PROCESS : The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Symbotic publicly traded securities during the Class Period to seek appointment as lead plaintiff in the Symbotic class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Symbotic class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Symbotic class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Symbotic class action lawsuit. ABOUT ROBBINS GELLER : Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: https://www.rgrdlaw.com/services-litigation-securities-fraud.html Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. Contact: Robbins Geller Rudman & Dowd LLP J.C. Sanchez, Jennifer N. Caringal 655 W. Broadway, Suite 1900, San Diego, CA 92101 800-449-4900 info@rgrdlaw.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Secret Service director touts changes as Congress presses him on Trump assassination attempt
Power couple: AG grad Thomas trains MMA with boyfriendProsecutors from the Manhattan district attorney's office are urging a New York judge not to throw out President-elect Donald Trump's criminal conviction in the hush money case, offering a variety of suggestions on how the case could proceed without interfering with his presidential duties. One suggestion was for the judge to assure Trump that he will be spared jail time in the case, which could help alleviate his "concerns" while he's in office, they said in the filing made public Tuesday. But, they argued, there's no reason to dismiss the case or vacate the May 2024 verdict. The “overwhelming evidence of defendant’s guilt and the critical importance of preserving public confidence in the criminal justice system, among many other factors, weigh heavily against dismissal,” the prosecutors from DA Alvin Bragg’s office contended. They also knocked Trump's claim that the case should be "immediately" dismissed because he's already protected by presidential immunity . "President-elect immunity does not exist. And even after the inauguration, defendant’s temporary immunity as the sitting President will still not justify the extreme remedy of discarding the jury’s unanimous guilty verdict and wiping out the already-completed phases of this criminal proceeding," the filing said. "[N]o principle of immunity precludes further proceedings before defendant’s inauguration. And even if judgment has not been entered at the time of defendant’s inauguration, there is no legal barrier to deferring sentencing until after defendant’s term of office concludes," it said. In a statement, Trump spokesperson Steven Cheung called the filing "a pathetic attempt to salvage the remains of an unconstitutional and politically motivated hoax." Trump's attorneys have argued he already has immunity because there “is no material difference between President Trump’s current status after his overwhelming victory in the national election and that of a sitting President following inauguration.” They say the indictment against him on felony criminal charges and his subsequent jury conviction should be thrown out on immunity grounds. Judge Juan Merchan indefinitely postponed Trump's sentencing last month so both sides could present their arguments on the issue. In Tuesday's filing, the district attorney's office said, "At most, defendant should receive temporary accommodations during his presidency to prevent this criminal case from meaningfully interfering with his official decision-making." Prosecutors presented a number of possible ways forward, including staying Trump's sentencing until after he's out of office. "To be sure, the People do not dispute that presidential immunity requires accommodation during a President’s time in office. But the extreme remedy of dismissing the indictment and vacating the jury verdict is not warranted in light of multiple alternative accommodations that would fully address the concerns raised by presidential immunity," their filing said. A stay, they said, would exempt Trump "from any immediate obligations in this case during his time in office, while at the same time respecting the public interest in upholding the rule of law and preserving the meaningful aspects of the criminal process that have already taken place." The DA's office also noted that Trump has already said he'd appeal any sentence, and that in New York, "it is routine for appeals to be decided years after sentencing even without a formal stay of proceedings." Prosecutors also noted that Trump has already gotten the sentencing postponed for several months. "Here, defendant can hardly complain about a delay in sentencing when he has affirmatively sought such delay — both before and after his reelection," the filing said. The judge could also alleviate some of Trump's worries by deciding he won't sentence him to any time behind bars, prosecutors said. The filing said "many of defendant’s concerns stem from the possibility that he will face 'potential incarceration,'" the filing said. "Here, however, because defendant has no prior criminal convictions and was convicted of Class E felonies, this Court is not required to impose a sentence of incarceration at all, and could even impose an unconditional discharge." That type of "limitation on the range of available sentences would further diminish any impact on defendant’s presidential decision making without going so far as to discard the indictment and jury verdict altogether," the filing said. The DA also presented a novel alternative, suggesting Merchan could use a mechanism known as abatement that is practiced in Alabama and some other states when a defendant dies before sentencing. Under the so-called 'Alabama' rule, "when a defendant dies after he is found guilty, but before the conviction becomes final through the appellate process, the court places in the record of the case a notation to the effect that the conviction removed the presumption of innocence but was neither affirmed nor reversed on appeal because the defendant died," the DA's office explained, saying it essentially "abates the criminal proceedings without vacating the underlying conviction or dismissing the indictment." Although abatement is not currently used in New York, prosecutors argued it presents a solution where, as here, there are concerns about finality and punishment. It's unclear when the judge will rule on the motions to dismiss. Trump was convicted in May on 34 counts of falsifying business records related to a hush money payment his then-lawyer Michael Cohen made to adult film star Stormy Daniels in the closing days of the 2016 election. Daniels claims she had a sexual encounter with Trump in 2006, which he denies. In their court filings, Trump's attorneys said the DA should follow the lead of special counsel Jack Smith, who moved to dismiss his two federal criminal cases against Trump following his election win. The DA's filing noted there are significant differences between their case and Smith's cases, including that Smith's cases had not gone to trial. Cheung said, "This lawless case should have never been brought, and the Constitution demands that it be immediately dismissed, as President Trump must be allowed to continue the Presidential Transition process, and execute the vital duties of the presidency, unobstructed by the remains of this, or any other, Witch Hunt."