NEW YORK, NY / ACCESSWIRE / February 10, 2024 / If you have suffered a loss on your Mobileye Global Inc. (NASDAQ:MBLY) and would like to learn more about a potential takeover under the federal securities laws, follow the link below for more information:
or contact Joseph E. Levi, Esq. by email at [email protected] or call (212) 363-7500 to speak with our team of experienced shareholder advocates.
THE TRIAL : A securities class action lawsuit has been filed against Mobileye Global Inc. seeking to recover losses from shareholders who were harmed by alleged securities fraud between January 16, 2023 and January 3, 2024.
CASE DETAILS: The complaint filed alleges that Defendants misrepresented and/or concealed that: (1) to avoid shortages experienced amid supply chain constraints in 2021 and 2022, Tier 1 customers of the company had purchased inventory in excess of demand in fiscal 2023; (2) as a result, the Company's customers had excess inventory, including approximately 6 to 7 million units of EyeQ SoC; (3) due to inventory buildup, there was a significant risk that Tier 1 customers would purchase fewer products, which would negatively impact the Company's financial results for fiscal 2024; and (4) as a result of the foregoing, Defendant's positive statements regarding the Company's business, operations and prospects were materially misleading and/or lacked a reasonable basis.
AND AFTER? If you have suffered a loss on Mobileye Global shares during the relevant period – even if you still hold your shares – go to to know your rights to seek compensation. There is no cost or obligation to participate.
WHY LÉVI & KORSINSKI: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally recognized securities litigation firm that has obtained hundreds of millions of dollars for injured shareholders and amassed a track record of victories in high-stakes cases. The firm has extensive expertise in representing investors in complex securities litigation and a team of more than 70 employees to serve our clients. For seven consecutive years, Levi & Korsinsky has been ranked in the ISS Securities Class Action Services Top 50 Report as one of the top securities litigation firms in the United States. Lawyer advertising. Previous results do not guarantee similar results.
SOURCE: Levi & Korsinsky, LLP
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