Symbotic Inc. is cooperating with an SEC subpoena connected to accounting errors disclosed late last year, the warehouse automation company said in its latest quarterly report.
The subpoena from the US Securities and Exchange Commission relates to the company’s November restatement of revenues for the year ending in September 2024, according to Symbotic’s filing Wednesday. Symbotic also outlined two proposed class actions that allege the company violated federal securities laws by making “false and/or misleading statements” regarding its revenue recognition.
A request to consolidate the suits is pending, the filing said, and the company “intends to vigorously defend these cases.” ...
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