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ROSEN, A LEADING LAW FIRM, Announces Filing of Securities Class Action Lawsuit Against iRobot Corporation; Encourages Investors with Losses in Excess of $100K to Contact the Firm - IRBT

NEW YORK, Oct. 26, 2019 /PRNewswire/ --A Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of iRobot Corporation (NASDAQ: IRBT) between November 21, 2016 and October 22, 2019 (the "Class Period"). The lawsuit seeks to recover damages for iRobot investors under the federal securities laws.
ROSEN, A LEADING LAW FIRM, Announces Filing of Securities Class Action Lawsuit Against iRobot Corporation; Encourages Investors with Losses in Excess of $100K to Contact the Firm - IRBT
To join the iRobot class action, go to https://www.rosenlegal.com/cases-register-1703.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) iRobot's explosive growth was not based on increased demand, expanding margins, and product innovations, as it claimed, but rather based on channel stuffing; (2) the Company attempted to conceal its actions by acquiring its distributors in Europe and Asia; (3) these acquisitions were designed to clean up the company's global inventory and mask falling demand; and (4) as a result, iRobot's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
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