PHILADELPHIA — Grabar Law Office is investigating potential claims on behalf of investors who purchased or otherwise acquired Symbotic Inc. ("Symbotic") (NASDAQ: SYM) securities on or before February 5, 2024.

Symbotic Inc., an automation technology company, develops technologies to enhance operating efficiencies in modern warehouses. The company automates the processing of pallets, cases, and individual items in warehouses.

The investigation follows a recent federal court decision permitting significant securities fraud claims against Symbotic and its Chairman and Chief Executive Officer, Richard B. Cohen, to proceed.

On July 23, 2026, Chief Judge Denise J. Casper of the United States District Court for the District of Massachusetts denied in part defendants' motion to dismiss a securities fraud class action against Symbotic and certain of its senior executives.

The underlying securities fraud class action alleges that Symbotic (NASDAQ: SYM), through certain executives, misled investors concerning the Company's progress in accelerating deployment of its warehouse automation systems.

Among other things, it is alleged that Symbotic repeatedly represented that it was successfully accelerating system deployments even though the Company's average system deployment time allegedly remained approximately 24 months and its primary engineering, procurement and construction outsourcing partner was experiencing significant operational problems.

The Court specifically found adequately alleged that, during a February 5, 2024 earnings call, CEO Richard Cohen responded to a question concerning Symbotic's ability to further accelerate deployments by stating that, based upon what the Company then knew, "we can go faster, we can go a lot faster." The Court concluded that Cohen's statement was plausibly misleading in light of allegations that Symbotic's average deployment times had remained stagnant and that the Company's principal outsourcing partner was experiencing significant performance problems.

The Court also permitted claims based upon Cohen's May 6, 2024 statements concerning Symbotic's purported acceleration of deployments to proceed.

Significantly, the Court found the allegations sufficient to support a strong inference of scienter [knowing falsity or reckless disregard for the truth] as to Cohen and, by imputation, Symbotic. Among other things, the Court relied upon Cohen's subsequent disclosure that Symbotic had been hiring personnel in the engineering, procurement and construction area during the six months preceding July 2024 and was considering bringing those functions back in-house.

On February 5, 2025, Symbotic subsequently disclosed that the Company was "still averaging 24 months" to complete deployments and that accelerating deployment times would "take some time."

The Court denied the motion to dismiss the Section 10(b) and Rule 10b-5 claim against Symbotic and Cohen concerning the allegedly misleading deployment statements. The Court also permitted related Section 20(a) control-person claims against Cohen, Chief Financial Officer Carol J. Hibbard and former Chief Manufacturing and Supply Chain Officer Walter Odisho to proceed.

If you purchased or otherwise acquired Symbotic (NASDAQ: SYM) securities on or prior to February 5, 2024, and still hold shares today, you are encouraged to contact contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085.  You can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever through a shareholder governance action.

There is no cost or obligation to participate in the investigation.

About Grabar Law Office

Grabar Law Office represents investors in securities fraud, shareholder derivative and corporate governance litigation. The Firm investigates potential violations of the federal securities laws on behalf of investors nationwide.