Levi & Korsinsky, LLP announces that a IRBT class action lawsuit has been commenced on behalf of investors who purchased iRobot Corporation, (IRBT) securities between November 21, 2016 and October 22, 2019. For more on the iRobot Class Action please contact us today.
According to the iRobot lawsuit, defendants misrepresented the reason for iRobot’s acquisitions of Tokyo-based Sales on Demand Corporation and privately-held Robopolis SAS, which was to control the Company’s largest distributors so that defendants could inflate sales and revenue figures by stuffing the channel. Defendants further misled investors by repeatedly telling them throughout the Class Period that the Company was seeing continued double-digit revenue growth, and by attributing the growth to increased demand for the Roomba vacuums, when in reality defendants were engaging in channel-stuffing to artificially boost sales. Defendants also misstated that the Company’s channel inventory levels had not changed and would not change dramatically from quarter to quarter or year over year, when in fact iRobot was deliberately stuffing the channel in order to claim false revenue growth.
TO LEARN MORE ABOUT THE IRBT CLASS ACTION, VISIT: https://www.zlk.com/pslra-1/irobot-corporation-loss-form?wire=9&prid=4335
If you suffered a loss in iRobot you have until December 23, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171