NEW YORK, April 23, 2024 /PRNewswire/ -- Moore Law, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against:

(PRNewsfoto/Moore Kuehn, PLLC)

  • Mobileye Global Inc. (NASDAQ: MBLY)

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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 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.
Moore Law, PLLC
30 Wall Street, 8th Floor
New York, NY 10005
(212) 709-8245

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