NEW YORK, March 15, 2024 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against iRobot Corporation (“iRobot” or the “Company”) (NASDAQ: IRBT) for violations of the federal securities laws on behalf of a class consisting of all persons and entities that purchased or otherwise acquired the common stock of iRobot securities between August 5, 2022 and January 26, 2024, both dates inclusive (the “Class Period”).

On March 8, 2024, a complaint was filed against the Company and certain of its officers alleging that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) 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; (ii) iRobot had conducted inadequate due diligence into the Merger and/or ignored significant risks weighing against the likelihood of regulatory approval; (iii) as a result of all the foregoing, iRobot overstated the likelihood for successfully completing the Merger; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

When investors learned the truth, iRobot’s common stock declined precipitously, injuring investors.

If you suffered a loss of more than $50,000 in iRobot’s securities, and wish to participate, or learn more, please contact our attorneys at (914) 733-7256 or via email to Andrea Farah (afarah@lowey.com) or Vincent R. Cappucci Jr. (vcappucci@lowey.com).

Any investor who wishes to serve as Lead Plaintiff must act before May 7, 2024.

About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.

Contact:
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7234
Email: investigations@lowey.com

SOURCE: Lowey Dannenberg P.C.