Press release
Investigation announced for Long-Term Investors in shares of Mobileye Global Inc. (NASDAQ: MBLY) over potential Wrongdoing
An investigation on behalf of current long term investors in Mobileye Global Inc. (NASDAQ: MBLY) shares.
Investors who are current long term investors in Mobileye Global Inc. (NASDAQ: MBLY) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: MBLY stocks follows a lawsuit filed against Mobileye Global Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: MBLY stocks, concerns whether certain Mobileye Global Inc. directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that, the Defendants failed to disclose to investors that that, to avoid the shortages experienced amid supply chain constraints in 2021 and 2022, the Company's Tier 1 customers had purchased inventory in excess of demand during fiscal 2023, that, as a result, the Company's customers had excess inventory on hand, including approximately 6-7 million units of EyeQ SoCs, that, due to the build-up of inventory, there was a significant risk that the Tier 1 customers would buy less product, thus adversely impacting the Company's fiscal 2024 financial results, and that, as a result of the foregoing, Defendant's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Mobileye Global Inc. (NASDAQ: MBLY) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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