(MENAFN- PR Newswire) NEW YORK, Feb. 13, 2024 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Mobileye Global Inc. ("Mobileye Global" or the "Company") (NASDAQ: MBLY ) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Mobileye Global investors who were adversely affected by alleged securities fraud between January 16, 2023 and January 3, 2024. Follow the link below to get more information and be contacted by a member of our team:
MBLY
investors may also contact Joseph E. Levi, Esq. via email at
[email protected]
or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) 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) as a result, the Company's customers had excess inventory on hand, including approximately 6-7 million units of EyeQ SoCs; (3) 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) 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.
WHAT'S NEXT? If you suffered a loss in Mobileye Global during the relevant time frame, you have until March 18, 2024
to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP
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