IROBOT SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against iRobot Corporation - IRBT

NEW ORLEANS, March 29, 2024

What You May Do

If you purchased securities of iRobot and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-irbt/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 7, 2024.

About the Lawsuit

iRobot and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On January 29, 2024, pre-market, the Company disclosed that it and Amazon had mutually agreed to terminate the "previously announced acquisition agreement, originally signed on August 4, 2022, under which Amazon would have acquired iRobot for cash consideration." Further, the Company disclosed that it would reduce its workforce by "approximately 350 employees, which represents 31% of the Company's workforce as of December 30, 2023," that it "expects to record restructuring charges totaling between $12 million and $13 million, primarily for severance and related costs, over the first two quarters of 2024, with the majority of the restructuring charges anticipated in the first quarter of 2024," and that its Chairman of the Board and CEO had stepped down.