According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that:
- the Merger, Amazon.com, Inc.’s (“Amazon”) acquiring of iRobot, would place Amazon in a sufficiently dominant position in the market for robot vacuum cleaners (“RVCs”) that U.S. and European antitrust regulators were unlikely to approve the Merger;
- iRobot had conducted inadequate due diligence into the Merger and/or ignored significant risks weighing against the likelihood of regulatory approval;
- as a result of all the foregoing, iRobot overstated the likelihood for successfully completing the Merger; and
- as a result, iRobot’s public statements were materially false and misleading at all relevant times.
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