Lead Plaintiff Deadline: December 23, 2019
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Defendants misrepresented the reason for iRobot’s acquisitions of SODC and Robopolis, 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, 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.
In order to be included in the lawsuit, you must have incurred a loss on shares of purchased during the class period listed above.
If you suffered a loss in during the relevant time frame, 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.