{"id":5483,"date":"2024-03-07T03:22:00","date_gmt":"2024-03-06T20:22:00","guid":{"rendered":"https:\/\/www.globenewswire.com\/news-release\/2024\/03\/06\/2841741\/34548\/en\/Glancy-Prongay-Murray-LLP-Reminds-Investors-of-Looming-Deadline-in-the-Class-Action-Lawsuit-Against-Mobileye-Global-Inc-MBLY.html2841741"},"modified":"2024-03-07T03:22:00","modified_gmt":"2024-03-06T20:22:00","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-mobileye-global-inc-mbly","status":"publish","type":"post","link":"https:\/\/cryptoinsider.asia\/vi\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-mobileye-global-inc-mbly\/","title":{"rendered":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Mobileye Global Inc. (MBLY)"},"content":{"rendered":"\n<p align=\"justify\">LOS ANGELES, March 06, 2024 (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=oxBgtUOzI8KWrhOCfuk7zqSTV1Zgs0r7B2J0P_cWl3GU6Ykr1_hXSafyDJePREWN_2AZn6bpoLKRjQe80biYGIARdqgpQNxOerMgWszMlsU=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Glancy Prongay &amp; Murray LLP\">Glancy Prongay &amp; Murray LLP<\/a> (\u201cGPM\u201d) reminds investors of the upcoming&nbsp;<strong>March 18, 2024 <\/strong>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Mobileye Global Inc. (\u201cMobileye\u201d or the \u201cCompany\u201d) (NASDAQ: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=dsO4vdwkN-BHVFJus0y43cNUV6zTFBQIWahi4np4m9rv80B6AvUPdV9DRINp9eq2r7mcutrxAcyT6JF2tnG5bQ==\" rel=\"nofollow noopener\" target=\"_blank\" title=\"MBLY\">MBLY<\/a>) securities between <strong>January 26, 2023 and January 3, 2024<\/strong>, inclusive (the \u201cClass Period\u201d).<\/p>\n<p>If you suffered a loss on your Mobileye investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=mWOV8GvR0E7wBYbAOQ-S64O2r_S8l81iaeN1IgxAM2hvRPxJ8H7Jsvr0Lvg9Q5uRDWuK5WfIrf6WExk_qnWdxKJK_1n5HVLbtvx_eu4Z-JjNxa7qEgqaVsfs541X6ERRd2cJQlDFVaG4_Xrx1_FVQHb8l9NQQCnG_WXxytUZl7I=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"www.glancylaw.com\/cases\/Mobileye-Global-Inc\/\">www.glancylaw.com\/cases\/Mobileye-Global-Inc\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=TMWPxKuby--RoezRglm_Bygpnkaep8uvHl8c0SEcW2cdsVrAURAS82GIsGBbGwpPXsSyGEGBQNS_ABA1QbVS8JJkZBnKkGsuxFBpPvkXMi19pGDZdEMt05LMWt5C59u4\" rel=\"nofollow noopener\" target=\"_blank\" title=\"shareholders@glancylaw.com\">shareholders@glancylaw.com<\/a> to learn more about your rights.<\/p>\n<p>On January 4, 2024, before the market opened, Mobileye issued a press release disclosing that it had \u201cbecome aware\u201d of a build-up of excess inventory including an estimated 6-7 million units of EyeQ SoCs held by customers. The Company stated this was a result of \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 The Company then disclosed \u201cthe lower-than-expected volumes in the EyeQ\u00ae SoC business will have a temporary impact on our profitability[.]\u201d The Company also provided a preliminary financial outlook for 2024, in which it stated it \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<p>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, on unusually heavy trading volume.<\/p>\n<p>The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that, to avoid the shortages experienced amid supply chain constraints in 2021 and 2022, the Company\u2019s Tier 1 customers had purchased inventory in excess of demand during fiscal 2023; (2) that, as a result, the Company\u2019s customers had excess inventory on hand, including approximately 6-7 million units of EyeQ SoCs; (3) that, 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\u2019s fiscal 2024 financial results; and (4) that, as a result of the foregoing, Defendant\u2019s positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n<p>Follow us for updates on <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=OYfyT3tGgrc4ev_bN128Y9_ImSoQ49IlOX3x4nPEooUjS7c47HkSSaGTSdFyKUGqKRz50gC-whNdwYQgx_PISWTRoyYya-g5d8jGSpPue3kP0xCidgqJampQdEyF0Qxk\" rel=\"nofollow noopener\" target=\"_blank\" title=\"LinkedIn\">LinkedIn<\/a>, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=uZe0qf9tJ40JGsUctpxEtCcpqw1NdNa_2BaFoOKXm25CdbM0mRIIokENPNzbYHvmrzY7BMbNcQbhYJcZxW2Pgw==\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Twitter\">Twitter<\/a>, or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Nc7nl2TNsvhYrXSNsHgZf7QITVYBTe4CKGVSGHnQA96cPv0j51DgcBv5BJVCFEi_FRthEuz8EdbTxb2DKjE0a3sIkyJLbCVfrijFwRb5khw=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"Facebook\">Facebook<\/a>.<\/p>\n<p>If you purchased or otherwise acquired Mobileye securities during the Class Period, you may move the Court no later than&nbsp;<strong>March 18, 2024 <\/strong>to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to&nbsp;learn more&nbsp;about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=TMWPxKuby--RoezRglm_Bygpnkaep8uvHl8c0SEcW2c4sVnHvf8dcZiYOUS9If_P5K8l4jAzPeHtvJskCrsKyPMN1WRnB0Gpi8GFclVLVvyhLtqox29upivLe0DbVimO\" rel=\"nofollow noopener\" target=\"_blank\" title=\"shareholders@glancylaw.com\">shareholders@glancylaw.com<\/a>, or visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=mWOV8GvR0E7wBYbAOQ-S6z62YPrytwlZzFi65EdcUAlbiHow-S4Y2_p9Zby2a9oCUJdQGT0js_uN_CyZziAwkvogvqrPUwXkvy1xutypmrM=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"www.glancylaw.com\">www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.<\/p>\n<p>This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n<p><strong>Contacts <\/strong><br \/>Glancy Prongay &amp; Murray LLP, Los Angeles <br \/>Charles Linehan, 310-201-9150 or 888-773-9224 <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=TMWPxKuby--RoezRglm_Bygpnkaep8uvHl8c0SEcW2eSNJZTozIVPDAYBQi2WU7l7drdEP7w1oc4xq4gXaztaXJ-U90GsOoQOa0k0VgFrx4rFwtiFftMfvbZJt6Jjn6D\" rel=\"nofollow noopener\" target=\"_blank\" title=\"shareholders@glancylaw.com\">shareholders@glancylaw.com<\/a> <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=mWOV8GvR0E7wBYbAOQ-S64SQzmBlbFzF1YYHHmZwn8pPlFLxG8ZeRiO3BVLe4YvbBdLhuD9pX5EVaTHixCtlfs_zwrm__FRkQ4HoGWK3L0E=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"www.glancylaw.com\">www.glancylaw.com<\/a><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/ODIwN2UyNGItOGNlYy00NTgzLTk4NjAtZTFjOWIxNDM3OTEzLTEwMjg4NjQ=\/tiny\/Glancy-Prongay-Murray-LLP.png\" referrerpolicy=\"no-referrer-when-downgrade\"> <\/p>\n","protected":false},"excerpt":{"rendered":"<p> LOS ANGELES, March 06, 2024 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0March 18, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Mobileye Global Inc. (\u201cMobileye\u201d or the \u201cCompany\u201d) (NASDAQ: MBLY) securities between January 26, 2023 and January 3, 2024, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Mobileye investments or would like to inquire about potentially&#8230;<\/p>\n","protected":false},"author":1,"featured_media":5484,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[75,1406],"tags":[],"class_list":["post-5483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-globenewswire"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Mobileye Global Inc. (MBLY)<\/title>\n<meta name=\"description\" content=\"LOS ANGELES, March 06, 2024 (GLOBE NEWSWIRE) -- Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0March 18, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Mobileye Global Inc. (\u201cMobileye\u201d or the \u201cCompany\u201d) (NASDAQ: MBLY) securities between January 26, 2023 and January 3, 2024, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Mobileye investments or would like to inquire about potentially...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"\" \/>\n<meta property=\"og:locale\" content=\"vi_VN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Mobileye Global Inc. (MBLY)\" \/>\n<meta property=\"og:description\" content=\"LOS ANGELES, March 06, 2024 (GLOBE NEWSWIRE) -- Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0March 18, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Mobileye Global Inc. (\u201cMobileye\u201d or the \u201cCompany\u201d) (NASDAQ: MBLY) securities between January 26, 2023 and January 3, 2024, inclusive (the \u201cClass Period\u201d). 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