iRobot Corporation Securities Litigation

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Lawsuit Overview

Defendant:iRobot Corporation
Date Filed:October 24th, 2019
Sector:Consumer Durables
Industry:Consumer Electronics/Appliances

According to the Complaint, iRobot Corporation is a global consumer robot company with a portfolio of
products focused on indoor and outdoor cleaning applications.

The Complaint alleges that Defendants violated the federal securities laws by making a series of misrepresentations and material omissions concerning the demand for iRobot's products. Specifically, throughout the Class Period, the Complaint alleges the Company 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, whilei in reality, iRobot engaged in questionable accounting practices and suspicious related-party transactions to mask slowing growth and other negative effects of increased competition.

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First Identified Complaint

Miramar Firefighters' Pension Fund, et al. v. iRobot Corporation, et al.

Date Filed:October 24th, 2019
Class Period Start:November 21st, 2016
Class Period End:October 22nd, 2019
First Identified Complaint Filings
#Document TitleFiling Date