Securities Fraud Investigation Into Monolithic Power Systems Inc. (MPWR) Announced – Investors Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz
Securities Fraud Investigation Into Monolithic Power Systems Inc. (MPWR) Announced – Investors Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz
LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Monolithic Power Systems Inc. (“Monolithic” or the “Company”) (NASDAQ: MPWR) on behalf of investors concerning the Company’s possible violations of federal securities laws.
IF YOU ARE AN INVESTOR WHO LOST MONEY ON MONOLITHIC POWER SYSTEMS INC. (MPWR), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS.
What Is The Investigation About?
On October 30, 2024, Monolithic released its third quarter 2024 financial results, disclosing that its Enterprise Data revenue had declined sequentially during the quarter to $184 million, missing consensus estimates by nearly 13%. The Company further revealed that customer order patterns had fallen materially below recent historical trends, which was expected to continue.
On this news, Monolithic’s stock price fell $160.51, or 17.5%, to close at $759.30 per share on October 31, 2024, thereby injuring investors.
Then, on November 11, 2024, Edgewater Research published a report revealing that Nvidia had canceled half of its outstanding Monolithic orders and would be eliminating Monolithic as a supplier due to persistent “[p]erformance issues” with the Company’s power modules.
On this news, Monolithic’s stock price fell $113.99, or 14.97%, to close at $647.31 per share on November 11, 2024, thereby injuring investors further.
Contact Us To Participate or Learn More:
If you purchased Monolithic securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Call us at: 310-914-5007
Email us at: info@frankcruzlaw.com
Visit our website at: www.frankcruzlaw.com.
Follow us for updates on Twitter at twitter.com/FRC_LAW.
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz
310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
