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SAN DIEGO, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a class action was filed on behalf of persons and entities that purchased or otherwise acquired Symbotic Inc. SYM securities between February 8, 2024 and November 26, 2024. Symbotic is an automation technology company that engages in the production of a robotics and automation-based product movement technology platform. For more information, submit a form , email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Symbotic Inc. (SYM) Failed to Disclose Material Weaknesses in its Internal Control Over Financial Reporting According to the complaint, on November 27, 2024, the Company filed with the SEC a Form 8-K/A, in which the Company revealed it had "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." Further, the Company indicated that its previously issued financial statements for the fourth quarter and fiscal year 2024 and the Company's supplemental presentation, should no longer be relied upon. On this news, the price of Symbotic stock fell over 35%, to close at $24 per share on November 27, 2024. What Now : You may be eligible to participate in the class action against Symbotic Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by February 3, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here . All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP : Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against Symbotic Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. Contact: Aaron Dumas, Jr. Robbins LLP 5060 Shoreham Pl., Ste. 300 San Diego, CA 92122 adumas@robbinsllp.com (800) 350-6003 www.robbinsllp.com https://www.facebook.com/RobbinsLLP/ https://www.linkedin.com/company/robbins-llp/ A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3edbf291-c5a4-45f0-a769-259266b2c15b © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Shopping on Shein and Temu for holiday gifts? You're not the only onePodeli : UN war crimes prosecutor Serge Brammertz told the UN Security Council that the case against Vojislav Seselj will be transferred to the Serbian judiciary in the near future. “It can be expected that the transfer of the case against Vojislav Seselj to Serbia will be completed in the near future, so that he can be brought to trial there,” Brammertz, Prosecutor of the International Residual Mechanism for Criminal Tribunals, said in his address to the UN SC. He added that the transfer of the case is consistent with the Council’s decision that Member States should assume responsibility for contempt proceedings. Vojislav Seselj, leader of the ultra-nationalist Serbian Radical Party (SRS), was sentenced to 10 years by the Hague Tribunal for inciting hatred against non-Serbs and returned to politics winning a seat in parliament after his release. The Mechanism confirmed an indictment against Seselj 4 others in August 2023 for contempt of court. They were accused of knowingly interfering with the administration of justice, disclosing confidential information about protected witnesses, and failing to comply with court orders to cease the publication of confidential material.

Shopping on Temu can feel like playing an arcade game. Instead of using a joystick-controlled claw to grab a toy, visitors to the online marketplace maneuver their computer mouses or cellphone screens to browse colorful gadgets, accessories and trinkets with prices that look too good to refuse. A pop-up spinning wheel offers the chance to win a coupon. Rotating captions warn that a less than $2 camouflage print balaclava and a $1.23 skeleton hand back scratcher are “Almost sold out.” A flame symbol indicates a $9.69 plush cat print hoodie is selling fast. A timed-down selection of discounted items adds to the sense of urgency. Pages from the Shein website, left, and from the Temu site, right. Welcome to the new online world of impulse buying, a place of guilty pleasures where the selection is vast, every day is Cyber Monday, and an instant dopamine hit is always just a click away. By all accounts, we’re living in an accelerating age for consumerism, one that Temu, which is owned by the Chinese e-commerce company PDD Holdings, and Shein, its fierce rival , supercharged with social media savvy and an interminable assortment of cheap goods, most shipped directly from merchants in China based on real-time demand. The business models of the two platforms, coupled with avalanches of digital or influencer advertising, have enabled them to give Western retailers a run for their money this holiday shopping season. A Christmas tree ornament purchased on Temu. Software company Salesforce said it expects roughly one in five online purchases in the U.S., the United Kingdom, Australia and Canada to be made through four online marketplaces based or founded in Asia: Shein, Temu, TikTok Shop — the e-commerce arm of video-sharing platform TikTok — and AliExpress. Analysts with Salesforce said they are expected to pull in roughly $160 billion in global sales outside of China. Most of the sales will go to Temu and Shein, a privately held company which is thought to lead the worldwide fast fashion market in revenue. Lisa Xiaoli Neville, a nonprofit manager who lives in Los Angeles, is sold on Shein. The bedroom of her home is stocked with jeans, shoes, press-on nails and other items from the ultra-fast fashion retailer, all of which she amassed after getting on the platform to buy a $2 pair of earrings she saw in a Facebook ad. Neville, 46, estimates she spends at least $75 a month on products from Shein. A $2 eggshell opener, a portable apple peeler and an apple corer, both costing less than $5, are among the quirky, single-use kitchen tools taking up drawer space. She acknowledges she doesn’t need them because she “doesn’t even cook like that.” Plus, she’s allergic to apples. “I won’t eat apples. It will kill me,” Neville said, laughing. “But I still want the coring thing.” Shein, now based in Singapore, uses some of the same web design features as Temu’s, such as pop-up coupons and ads, to persuade shoppers to keep clicking, but it appears a bit more restrained in its approach. Shein primarily targets young women through partnerships with social media influencers. Searching the company's name on video platforms turns up creators promoting Shein's Black Friday sales event and displaying the dozens of of trendy clothes and accessories they got for comparatively little money. But the Shein-focused content also includes videos of TikTokers saying they're embarrassed to admit they shopped there and critics lashing out at fans for not taking into account the environmental harms or potential labor abuses associated with products that are churned out and shipped worldwide at a speedy pace. Neville has already picked out holiday gifts for family and friends from the site. Most of the products in her online cart cost under $10, including graphic T-shirts she intends to buy for her son and jeans and loafers for her daughter. All told, she plans to spend about $200 on gifts, significantly less than $500 she used to shell out at other stores in prior years. “The visuals just make you want to spend more money,” she said, referring to the clothes on Shein's site. “They're very cheap and everything is just so cute.” Unlike Shein, Temu's appeal cuts across age groups and gender. The platform is the world’s second most-visited online shopping site, software company Similarweb reported in September. Customers go there looking for practical items like doormats and silly products like a whiskey flask shaped like a vintage cellphone from the 1990s. Temu advertised Black Friday bargains for some items at upwards of 70% off the recommended retail price. Making a purchase can quickly result in receiving dozens of emails offering free giveaways. The caveat: customers have to buy more products. Despite their rise, Temu and Shein have proven particularly ripe for pushback. Last year, a coalition of unnamed brands and organizations launched a campaign to oppose Shein in Washington. U.S. lawmakers also have raised the possibility that Temu is allowing goods made with forced labor to enter the country. More recently, the Biden administration put forward rules that would crack down on a trade rule known as the de minimis exception, which has allowed a lot of cheap products to come into the U.S. duty-free. President-elect Donald Trump is expected to slap high tariffs on goods from China, a move that would likely raise prices across the retail world. Both Shein and Temu have set up warehouses in the U.S. to speed up delivery times and help them better compete with Amazon, which is trying to erode their price advantage through a new storefront that also ships products directly from China. 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Quarterback Shedeur Sanders , who's wrapping up his time with the Colorado Buffaloes , spared no expense in showing his gratitude to offensive lineman Jordan Seaton , gifting him a swanky 2025 Mercedes -Maybach S-Class. An online review lauds the vehicle: "This fanciest of S-classes is the closest thing to a sensory deprivation tank on four wheels; it practically floats down the road." While base models start at $200,000, select features can drive the price up to $340,000. Sanders showcased this generous moment on Instagram. "He protected the backside, so he had to get the 'bach,'" the Buffs quarterback could be heard saying. The lavish gift is a significant boost for Seaton, an 18-year-old freshman who became indispensable to the team’s offensive line and has provided crucial protection for Sanders, leading to fewer sacks and more wins. Travis Hunter's fiancee breaks silence on interaction with Colorado star College football recruit pulls off National Signing Day stunt before flipping to Oregon Thanks to the partnership between Sanders and Seaton, Colorado enjoyed a 9-3 run during the regular season and is preparing for its first bowl game since 2020, potentially appearing in either the Holiday Bowl or the Alamo Bowl scheduled for late December. The Buffs have been impressed by Seaton, a five-star recruit, for a while with head coach Deion Sanders heaping praise on the D.C. native even before he committed to the program. View this post on Instagram A post shared by Well Off Forever (@welloffforever) "He's a man, man," Sanders told ESPN's Stephen A. Smith. "... This kid is a pro mentally and physically right now. He just has to put it on grass. "I love everything about this kid and who he is going to become. I promise you this kid is going to be a first-rounder if not a top-five pick." Spurning elite programs across the nation, Seaton chose the Buffaloes and quickly dove into bolstering the team's line recruits. Sanders praised Seaton's proactive leadership, revealing, "He challenges guys all day long. He would get on the phone and call another lineman [recruit], 'Hey man, are you coming or not?' "Because we don't have time for that. 'What you gonna do? ... Coach, uh-uh, he's just trying to get a bag. We don't want him. He ain't thinking about the game. He ain't thinking about how he fits in the scheme. He just wants a bag. We don't want him.' DON'T MISS: Bryce Underwood helping Michigan land 'monster' recruit at Alabama's expense Deion Sanders willing to take NFL Draft risk involving Shedeur and Travis Hunter Ryan Day makes feelings clear on Ohio State brawl with Michigan after criticism "That's how he approaches things."Kate Middleton's cancer diagnosis may bring unexpected resolutionNone