NEW YORK, NY - 
(NewMediaWire) - January 12, 2024 - Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Mobileye Global Inc. (“Mobileye” or the “Company”) (NASDAQ: MBLY). Click Here to Join Investigation.
On January 4, 2024, before the market opened, Mobileye issued a press release entitled "Mobileye Releases Preliminary FY2023 Financial Results and Initial 2024 Outlook" which, among other things, states that Mobileye “[has] become aware of excess inventory at our customers, which we believe to be 6-7 million units of EyeQ® SoCs” and that "[w]e currently expect Q1 revenue to be down approximately 50%, as compared to the $458 million revenue generated in the first quarter of 2023."
Following this news, the price of Mobileye stock fell $9.75 per share, more than 24%, to close at $29.97 per share on January 4, 2024.
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If you have any questions about this investigation, please contact:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(212) 329-8571
E-mail: pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
