MOBILEYE GLOBAL INVESTOR ALERT: Scott+Scott Attorneys at Law LLP Investigates Mobileye Global Inc.’s Directors and Officers for Breach of Fiduciary Duties – MBLY

NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is investigating whether Intel Corporation (“Intel”), as well as the leadership of Mobileye Global Inc. (“Mobileye”) (NASDAQ: MBLY), breached their fiduciary duties to Mobileye and its shareholders.

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Scott+Scott is investigating whether Intel, as controlling stockholder of Mobileye, as well as members of the Mobileye board of directors or senior management, failed to manage Mobileye in an acceptable manner, or enriched themselves at Mobileye’s expense, in breach of their fiduciary duties to Mobileye, and whether Mobileye and its shareholders have suffered damages as a result.

On January 4, 2024, Mobileye announced that it had “become aware” of an accumulation of excess inventory with its customers, that “lower-than-expected volumes” in the EyeQ area of its business would temporarily affect profitability and lowered its revenue guidance for 2024 accordingly. On August 1, 2024, Mobileye announced it was further reducing its 2024 revenue guidance, with the channel stuffing issue as the cause. On this news, Mobileye stock fell to $16.28/share.

In June 2023, Intel, the controlling stockholder of Mobileye, sold 38.5 million shares of Mobileye at $42/share, getting over $1.6 billion in proceeds.

What You Can Do – CLICK HERE FOR YOUR OPTIONS AS A SHAREHOLDER

If you own shares of Mobileye, you may have legal claims against Intel, as well as Mobileye’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at [phone] or [e-mail].

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