from The Rosen Law Firm P. A. (isin : US59516C1062)
ROSEN, A LEADING INVESTOR RIGHTS LAW FIRM, Encourages Mobileye Global Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - MBLY
EQS-News: The Rosen Law Firm P. A. / Key word(s): Financial WHY: NEW YORK, NY -
WHAT TO DO NEXT: To join the Mobileye class action, go to https://rosenlegal.com/submit-form/?case_id=21612 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 18, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about Mobileye's business, operations, and prospects. Specifically, defendants failed to disclose to investors that: (1) to avoid the shortages experienced amid supply chain constraints in 2021 and 2022, Mobileye’s Tier 1 customers had purchased inventory in excess of demand during fiscal 2023; (2) as a result, Mobileye’s customers had excess inventory on hand, including approximately 6-7 million units of EyeQ System-on-Chip, a computer chip used for driver-assistance and partial autonomous driving; (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 Mobileye’s fiscal 2024 financial results; and (4) as a result of the foregoing, defendant’s positive statements about Mobileye’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Mobileye class action, go to https://rosenlegal.com/submit-form/?case_id=21612 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/. Attorney Advertising. Prior results do not guarantee a similar outcome. ------------------------------- Contact Information: Laurence Rosen, Esq. News Source: NewMediaWire 20.01.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
(
SO WHAT: If you purchased Mobileye securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.| Language: | English |
| Company: | The Rosen Law Firm P. A. |
| United States | |
| ISIN: | US60741F1049 |
| EQS News ID: | 1819341 |
| End of News | EQS News Service |
1819341 20.01.2024 CET/CEST