March 15, 2021 - The case was dismissed.

April 3, 2020 - A consolidated complaint was filed.

December 5, 2019 - The Court issued an Order transferring this case to the District of Massachusetts.

October 23, 2019 - An investor in shares of iRobot Corporation (NASDAQ: IRBT) filed a lawsuit over alleged violations of Federal Securities Laws by iRobot Corporation in connection with certain allegedly false and misleading statements made between September 13, 2017 and October 22, 2019.

April 23, 2019 - After the close of trading, iRobot Corporation surprised the market when it announced that quarterly revenues were below analyst expectations and also revealed surging inventory levels. Specifically, iRobot Corporation reported days in inventory ( DII ) of 140 for the three months ended March 30, 2019, compared to DII of 101 for the three months ended March 31, 2018. Inventory also rose to $181 million as of March 30, 2019, up from $112 million in April 2018.

July 23, 2019 - After the close of trading, iRobot Corporation cut its full-year earnings forecast. Specifically, fiscal year 2019 revenue guidance was lowered from a range between $1.28 billion and $1.31 billion, to a range between $1.2 billion and $1.25 billion, and earnings per share guidance was lowered from a range between $3.15 and $3.40 to a range between $2.40 and $3.15.

October 22, 2019 - After the close of trading, iRobot Corporation reported its third quarter 2019 financial results. iRobot Corporation cut the high end of its revenue expectations for the year, from $1.25 billion to $1.21 billion, and said it rolled back price increases after a suboptimal customer response. iRobot Corporation reported increased inventory levels once again, with third quarter 2019 ending inventory of $248 million or 149 DII compared to the $161 million or 113 DII a year prior.
Shares of iRobot Corporation (NASDAQ: IRBT) declined from $131.35 per share on April 15, 2019 to as low as $44.00 per share on October 23, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of iRobot Corporation (NASDAQ: IRBT) common shares between September 13, 2017 and October 22, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between September 13, 2017 and October 22, 2019, 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 September 13, 2017 and October 22, 2019.