An investigation on behalf of current long term investors in iRobot Corporation (NASDAQ: IRBT) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 03/09/2020 -- Certain directors of iRobot Corporation are under investigation concerning potential breaches of fiduciary duties.
Investors who are current long term investors in iRobot Corporation (NASDAQ: IRBT) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: IRBT stocks follows a lawsuit filed against iRobot Corporation over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: IRBT stocks, concerns whether certain iRobot directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that iRobot reported explosive, double-digit revenue growth, which it attributed to increasing demand for its Roomba products, expanded gross margin due to distributor acquisitions, greater brand awareness and technological innovation, while in reality, iRobot was engaging in channel-stuffing in order to inflate its sales and revenues figures, and had acquired two of its largest distributors in order to facilitate and conceal this deceptive practice.
The plaintiff says that as a result of these misrepresentations, iRobot shares traded at artificially inflated prices between November 21, 2016 and October 22, 2019.
Those who purchased shares of iRobot Corporation (NASDAQ: IRBT) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.