Mobileye Global, Inc.

Ticker: MBLY

Class Period Start: 01/26/2023

Class Period End: 01/03/2024

Registration Deadline: 03/16/2024

A securities class action has been filed in the USDC S.D.N.Y. against Mobileye Global, Inc. (MBLY) (“Mobileye” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Mobileye securities between January 26, 2023 and January 3, 2024, both dates inclusive (the “Class Period”).

 

Mobileye is a technology company engaged in the development and deployment of advanced driver assistance systems (“ADAS”) and autonomous driving software and hardware products.

 

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that:

(1) 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;

(2) that, as a result, the Company’s customers had excess inventory on hand, including approximately 6-7 million units of EyeQ SoCs;

(3) 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

(4) 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, thereby harming investors.

 

If you purchased Mobileye securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

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