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, while in reality, iRobot engaged in questionable accounting practices and suspicious related-party transactions to mask slowing growth and other negative effects of increased competition.

On December 5, 2019, the Court issued an Order transferring this case to the District of Massachusetts. On January 24, 2020, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on April 3. Defendants filed a Motion to Dismiss the consolidated Complaint on May 19. On March 12, 2021, the Court issued an Order granting Defendants' Motion to Dismiss.