RILY - Bragar Eagel & Squire P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Mobileye ADM and B. Riley and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Mobileye Global Inc. (NASDAQ:MBLY), Archer-Daniels-Midland Company (NYSE:ADM), and B. Riley Financial, Inc. (NASDAQ:RILY). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Mobileye Global Inc. (NASDAQ:MBLY)
Class Period: January 26, 2023 - January 3, 2024
Lead Plaintiff Deadline: March 18, 2024
According to the lawsuit, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's 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's Tier 1 customers had purchased inventory in excess of demand during fiscal 2023; (2) that, as a result, the Company's 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's fiscal 2024 financial results; and (4) that, as a result of the foregoing, Defendant's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
For more information on the Mobileye class action go to: https://bespc.com/cases/MBLY
Archer-Daniels-Midland Company (NYSE:ADM)
Class Period: April 30, 2020 - January 22, 2024 (Common Stock Only)
Lead Plaintiff Deadline: March 25, 2024
The lawsuit alleges ...