Investor action notice: moore law pllc encourages investors in mobileye global inc. to contact law firm
New york , april 23, 2024 /prnewswire/ -- moore law, pllc, a securities and shareholder law firm located on wall street, is investigating potential claims against: mobileye global inc. (nasdaq: mbly) *please contact fletcher@fmoorelaw.com 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.
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