Symbotic (SYM) Restates Financial Results Amid Securities Class Action Over Improper Accounting – Hagens Berman
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Symbotic Inc. (SYM) has restated its financial results for three quarters in 2023 and 2024 due to overstated revenues and profits, and understated losses. This comes amid a securities class action over improper accounting.
December 25, 2024 | 5:30 pm
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Symbotic Inc. has restated its financial results for three quarters due to significant overstatements in revenue and profit, and understatements in losses. This follows a securities class action over improper accounting.
The restatement of financial results indicates significant issues with Symbotic's accounting practices, which could lead to a loss of investor confidence and potential legal liabilities. This is likely to negatively impact the stock price in the short term.
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