AI Module Supplier Monolithic Sued Over Nvidia Exit, 30% Selloff

Monolithic Power Systems Inc. touted the quality of its electrical components for artificial intelligence hardware despite flaws that led its largest customer, Nvidia Corp., to abandon it, an investor alleges.

As a result of disappointing financial results and an “explosive” analyst report, “the price of Monolithic stock declined more than 30% from its Class Period high of more than $959 per share to approximately $647 per share” on Nov. 11, 2024, according to the complaint. An employee retirement fund for Waterford Township, Mich., filed the proposed class action Tuesday in the US District Court for the Western District of ...