SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of iRobot Corporation – IRBT

NEW YORK, Feb. 03, 2024 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of iRobot Corporation. (“iRobot” or the “Company”) (NASDAQ: IRBT).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.   

The investigation concerns whether iRobot and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

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On August 5, 2022, iRobot and Amazon.com, Inc. (“Amazon”) announced entry into a definitive merger agreement, pursuant to which Amazon would “acquire iRobot for $61 per share in an all-cash transaction valued at approximately $1.7 billion, including iRobot’s net debt” (the “Merger Agreement”). 

Then, on January 29, 2024, Amazon and iRobot announced entry “into a mutual agreement” to terminate the previously announced Merger Agreement, after struggling to gain approval from regulatory authorities in the U.S. and Europe.  Concurrently, iRobot announced the resignation of its Chief Executive Officer and Chairman, as well as plans to cut approximately 31% of its workforce. 

On this news, iRobot’s stock price fell $1.49 per share, or 8.77%, to close at $15.50 per share on January 29, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.

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CONTACT:

Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980