INVESTOR ACTION NOTICE: Moore Law PLLC Encourages Investors in Mobileye Global Inc. to Contact Law Firm
INVESTOR ACTION NOTICE: Moore Law PLLC Encourages Investors in Mobileye Global Inc. to Contact Law Firm |
[23-April-2024] |
NEW YORK, April 23, 2024 /PRNewswire/ -- Moore Law, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against:
*please contact fletcher@fmoorelaw.com The investigation concerns allegations regarding false and/or misleading statements, as well as failure to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, a failure to disclose to investors 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; and (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. The Company also provided a preliminary financial outlook for 2024, in which it stated it "expect[s] Q1 revenue to be down approximately 50%, as compared to the $458 million revenue generated in the first quarter of 2023." On this news, Mobileye's stock price fell $9.75 per share, or 24.5%, to close at $29.97 per share on January 4, 2024. If you own Mobileye Global Inc. (NASDAQ: MBLY) please contact Fletcher Moore by email at fletcher@fmoorelaw.com or (212) 709-8245. There is no cost to you. We will never send you a bill or ask for payment. Attorney advertising. Prior results do not guarantee similar outcomes. Fletcher Moore, Esq. View original content to download multimedia:https://www.prnewswire.com/news-releases/investor-action-notice-moore-law-pllc-encourages-investors-in-mobileye-global-inc-to-contact-law-firm-302125126.html SOURCE Moore Law PLLC | ||
Company Codes: NASDAQ-NMS:MBLY |