Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of iRobot Corporation (IRBT) Investors - Seite 2

Then, on January 29, 2024, Amazon and iRobot announced that they would be terminating the Merger. iRobot also disclosed that its Chief Executive Officer and Chairman of the Board of Directors would be resigning, and that it was planning to cut approximately 31% of its workforce. On this news, iRobot’s stock price fell $1.49, or 8.8%, to close at $15.50 per share on January 29, 2024, thereby injuring investors further.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Merger would place Amazon in a sufficiently dominant position in the market for RVCs that U.S. and European antitrust regulators were unlikely to approve the Merger; (2) iRobot had conducted inadequate due diligence into the Merger and/or ignored significant risks weighing against the likelihood of regulatory approval; (3) as a result of all the foregoing, iRobot overstated the likelihood for successfully completing the Merger; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired iRobot securities during the Class Period, you may move the Court no later than May 7, 2024 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [e-mail], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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The iRobot Stock at the time of publication of the news with a fall of -1,25 % to 9,095EUR on Nasdaq stock exchange (19. März 2024, 17:32 Uhr).