|Company name||iRobot Corporation|
NEW YORK, January 28, 2020 – Bragar Eagel and Squire is investigating certain officers and directors of iRobot Corporation (NYSE: IRBT) following a class action complaint that was filed against iRobot on October 24, 2019.
The complaint alleges that throughout the class period defendants made false and/or misleading statements and/or failed to disclose that: (1) iRobot’s explosive growth was not based on increased demand, expanding margins, and product innovations, as it claimed, but rather based on channel stuffing; (2) the Company attempted to conceal its actions by acquiring its distributors in Europe and Asia; (3) these acquisitions were designed to clean up the Company’s global inventory and mask falling demand; and (4) as a result, iRobot’s public statements were materially false and misleading at all relevant times.
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