{"id":64157,"date":"2024-02-25T04:36:06","date_gmt":"2024-02-25T04:36:06","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/mbly-shareholder-alert-kessler-topaz-meltzer-check-llp-reminds-mobileye-global-inc-mbly-investors-of-securities-fraud-class-action-lawsuit-filed-on-the-behalf\/"},"modified":"2024-02-25T04:36:06","modified_gmt":"2024-02-25T04:36:06","slug":"mbly-shareholder-alert-kessler-topaz-meltzer-check-llp-reminds-mobileye-global-inc-mbly-investors-of-securities-fraud-class-action-lawsuit-filed-on-the-behalf","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/mbly-shareholder-alert-kessler-topaz-meltzer-check-llp-reminds-mobileye-global-inc-mbly-investors-of-securities-fraud-class-action-lawsuit-filed-on-the-behalf\/","title":{"rendered":"MBLY SHAREHOLDER ALERT: Kessler Topaz Meltzer & Check, LLP Reminds Mobileye Global Inc. (MBLY) Investors of Securities Fraud Class Action Lawsuit Filed On the Behalf"},"content":{"rendered":"
\n

RADNOR, Pa., Feb. 23, 2024 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP<\/a> (www.ktmc.com<\/a>) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against Mobileye Global Inc. (\u201cMobileye\u201d) (NASDAQ: MBLY<\/a>). The action charges Mobileye with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company\u2019s business, operations, and prospects. As a result of Mobileye\u2019s materially misleading statements and omissions to the public, Mobileye\u2019 s investors have suffered significant losses.<\/p>\n

CLICK HERE<\/strong><\/a> TO SUBMIT <\/strong>YOUR <\/strong>MOBILEYE<\/strong> LOSSES<\/strong>. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN YOUR BROWSER: <\/strong>https:\/\/www.ktmc.com\/new-cases\/mobileye-global-inc?utm_source=PR&utm_medium=link&utm_campaign=mbly&mktm=r<\/a><\/p>\n

TO VIEW OUR VIDEO, PLEASE <\/strong>CLICK HERE<\/strong><\/a><\/p>\n

LEAD PLAINTIFF DEADLINE:<\/strong> MARCH 18, 2024<\/strong><\/p>\n

CLASS PERIOD: JANUARY 26, 2023 THROUGH JANUARY 3, 2024<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS<\/strong>:
Jonathan Naji, Esq.<\/strong><\/a> at (484) 270-1453 or via email at <\/strong>info@ktmc.com<\/strong><\/a>\u00a0\u00a0<\/p>\n

Kessler Topaz is one of the world\u2019s foremost advocates in protecting the public against corporate fraud and other wrongdoing. Our securities fraud litigators are regularly recognized as leaders in the field as well as the firm itself which is continuously awarded for the successful results we\u2019ve achieved. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.<\/p>\n

In addition to representing investors in cases where the fraud has been revealed, Kessler Topaz also represents whistleblowers – persons who expose wrongdoing to those in positions of authority or to the public- in cases brought under federal and state qui tam statutes, and through financial fraud whistleblower programs, such as those run by the SEC, CFTC and IRS. If you have information about fraud against government programs (such as Medicare), or violations of federal securities, commodities, tax or anti-foreign bribery laws, contact Kessler Topaz at (866) 369-7779 or at wbinfo@ktmc.com<\/a> or go to https:\/\/www.ktmc-whistleblower.com<\/a>.<\/p>\n

DEFENDANTS\u2019 ALLEGED MISCONDUCT<\/strong>
The Class Period begins on January 26, 2023, when Mobileye issued a press release to announce its fourth quarter and full year 2022 results. In the release, Mobileye touted its purported strong financial performance and its expected strong performance for 2023. Thereafter, and throughout the Class Period, Mobileye also assured investors that management is monitoring inventory levels on an ongoing basis to mitigate any supply chain constraints.<\/p>\n

The truth was revealed on January 4, 2024, when, before the market opened, Mobileye issued a press release and disclosed that the company had \u201cbecome aware\u201d of a build-up of excess inventory including an estimated 6-7 million units of EyeQ SoCs held by customers. Mobileye attributed this result to \u201csupply chain constraints in 2021 and 2022 and a desire to avoid part shortages\u201d and \u201clower than-expected production at certain OEM\u2019s during 2023.\u201d Additionally, Mobileye disclosed that \u201cthe lower-than-expected volumes in the EyeQ\u00ae SoC business will have a temporary impact on our profitability\u201d and that Mobileye \u201cexpect[s] Q1 revenue to be down approximately 50%, as compared to the $458 million revenue generated in the first quarter of 2023.\u201d<\/p>\n

On this news, Mobileye\u2019s stock price fell $9.75 per share, or 24.5%, to close at $29.97 per share on January 4, 2024.<\/p>\n

WHAT CAN I DO?<\/strong>
Mobileye investors may, no later than March 18, 2024,<\/u><\/em><\/strong> move the Court to serve as lead plaintiff for the class, through Kessler Topaz Meltzer & Check, LLP<\/a> or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP<\/a> encourages Mobileye investors who have suffered significant losses to contact the firm directly to acquire more information. The class action complaint against Mobileye, Mcauliffe <\/em>v. Mobileye Global Inc., et al., <\/em>Case No. 24-cv-00310, is filed in the United States District Court for the Southern District of New York and is pending before the Honorable Denise Cote.<\/p>\n

CLICK HERE<\/strong><\/a> TO SIGN UP FOR THE CASE<\/strong><\/p>\n

WHO CAN BE A LEAD PLAINTIFF?<\/strong>
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.\u00a0 The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.<\/p>\n

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP <\/strong>
Kessler Topaz Meltzer & Check, LLP<\/a> prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP<\/a> please visit www.ktmc.com<\/a>.<\/p>\n

CONTACT:<\/strong><\/p>\n

Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq<\/a>.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
info@ktmc.com<\/a><\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

RADNOR, Pa., Feb. 23, 2024 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against Mobileye Global Inc. (\u201cMobileye\u201d) (NASDAQ: MBLY). The action charges Mobileye with […]<\/p>\n","protected":false},"author":2,"featured_media":64158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/Resource\/Download\/405ec490-b904-4a5e-85a7-710cdebe280d","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-64157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/64157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=64157"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/64157\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/64158"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=64157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=64157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=64157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}