Mobileye Global Inc. Investors Alerted to Class Action Lawsuit

March 1, 2024: Investors in Mobileye Global Inc. (NASDAQ: MBLY) are being informed of a class action lawsuit against the company. Levi & Korsinsky, LLP, the law firm leading the case, seeks to identify a lead plaintiff to represent the interests of investors who may have suffered losses due to alleged securities fraud.

The lawsuit centers on allegations that Mobileye misrepresented crucial information between January 16, 2023, and January 3, 2024 (the “Class Period”). The complaint contends that the company misled investors regarding the demand for its EyeQ System-on-Chip (SoC) products. Specifically:

Excess customer inventory: To mitigate supply chain constraints in previous years, Mobileye’s customers allegedly purchased more inventory than needed, leaving them with excess stockpiles.

Reduced future demand: This excess inventory is said to have reduced customers’ demand for new EyeQ SoCs, potentially harming Mobileye’s future financial performance.

Lack of reasonable basis: Due to these factors, the lawsuit asserts that Mobileye’s positive statements about its business prospects were misleading or lacked a reasonable basis.

The lawsuit alleges these misrepresentations inflated Mobileye’s stock price during the Class Period. Investors who purchased shares during this time may have suffered losses when the stock price adjusted to reflect the company’s actual position.

Investors who meet eligibility criteria and wish to participate in the lawsuit must request the court to appoint them as lead plaintiffs before March 18, 2024. The lead plaintiff takes an active role in the litigation, representing the interests of the entire class of affected investors.

Levi & Korsinsky LLP provides contact information for investors seeking to discuss their potential eligibility and involvement in the lawsuit. It’s important to emphasize that no costs are incurred by participating in a class action lawsuit.