July 10, 2017 (Shareholders Foundation) - An investigation on behalf of investors of iRobot Corporation (NASDAQ:IRBT) shares over potential securities laws violations by iRobot and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of iRobot Corporation (NASDAQ:IRBT) concerning whether a series of statements by iRobot regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Bedford, MA based iRobot Corporation is a consumer robot company, which is engaged in designing and building robots. iRobot Corporation reported that its Total Revenue rose from $616.78 million for the 12 months period that ended on January 2, 2016 to $660.60 million for the 12 months period that ended on December 31, 2016. Shares of iRobot Corporation (NASDAQ:IRBT) grew to as high as $102.70 per share on June 23, 2017.

On June 27, 2017, a report was released suggesting that iRobots recent outperformance reflects restocking of its supply chain after years of false starts, the removal of the struggling military business, and the acquisition boost from its Japanese distributor. We believe these factors will create very difficult comparisons for iRobot to lap in the future The report also alleges that investors are overlooking disruptive competition likely to enter iRobots US market. Shares of iRobot Corporation (NASDAQ:IRBT) declined to $79.40 per share on July 6, 2017.