MBLY - Bragar Eagel & Squire P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against BioNTech Mobileye BioVie and ADM and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Feb. 10, 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 BioNTech SE (NASDAQ:BNTX), Mobileye Global Inc. (NASDAQ:MBLY), BioVie Inc. (NASDAQ:BIVI), and Archer-Daniels-Midland Company (NYSE:ADM). 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.
BioNTech SE (NASDAQ:BNTX)
Class Period: March 30, 2022 - October 13, 2023
Lead Plaintiff Deadline: March 12, 2024
According to the filed complaint, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) BioNTech overstated demand for Comirnaty and/or its commercial prospects; (ii) the Company and/or Pfizer had accumulated excess inventory of raw materials for Comirnaty, as well as COVID-19 vaccine doses adapted to other, non-XBB.1.5 variants that were produced at risk; (iii) accordingly, BioNTech was at an increased risk of recording significant inventory write-offs and other charges related to Comirnaty; and (iv) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
For more information on the BioNTech class action go to: https://bespc.com/cases/BNTX
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 ...