Bronstein, Goertz & Grossman LLC

Bronstein, Goertz & Grossman LLC

NEW YORK, Feb. 08, 2024 (GLOBE NEWSWIRE) — Lawyer Announcement – Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Mobileye Global Inc. (“Mobileye” or the “Company”) (NASDAQ: MBLY) and certain of its officers.

Category definition:

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Mobileye securities between January 26, 2023 and January 3, 2024, inclusive (the “Class Period”). These investors are encouraged to join this cause by visiting the company’s website: bgandg.com/MBLY.

Case details:

Throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and future prospects. Specifically, Defendants failed to disclose to investors that: (1) that to avoid shortages that occurred amid supply chain constraints in 2021 and 2022, the Company’s Tier 1 customers purchased inventory in excess of demand during fiscal year 2023; (2) that as a result, the Company’s customers have excess inventory on hand, including approximately 6-7 million units of EyeQ SoCs; (3) that due to inventory backlog, there was a significant risk that Tier 1 customers would purchase fewer products, negatively 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.

What then?

A class action lawsuit has already been filed. If you would like to review a copy of the complaint, you may visit the firm’s website: bgandg.com/MBLY or you may contact Peretz Bronstein, Esq. Or our law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffer a loss in Mobileye, you have until March 18, 2024, to ask the court to appoint you as lead plaintiff. Your ability to participate in any recovery does not require that you serve as lead plaintiff.

There is no cost to you

We represent investors in class actions on a contingency fee basis. This means that we will ask the court to reimburse us for out-of-pocket expenses and attorney fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Goertz and Grossman:

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud and shareholder derivative litigation. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Lawyer advertisement. Previous results do not guarantee similar results.

communication:

Bronstein, Goertz & Grossman, LLC

Peretz Bronstein or Yael Nathanson

332-239-2660 | info@bgandg.com

    (Tags for translation)Bronstein

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