Mobileye Beats Investor Suit Over Saturated Inventory Issues (1)

Mobileye Global Inc. defeated investor allegations that it concealed pushing excess inventory to avoid supply chain shortages, later hindering the autonomous driving company’s 2024 financial results.

Investors failed to allege “any material misstatement or any deceptive conduct” to carry securities fraud claims, said Judge Denise L. Cote of the US District Court for the Southern District of New York on Wednesday while ordering the case to be closed. Among other issues, alleged misrepresentations the lead plaintiff pointed to were “cherry picked” around disclosed pandemic-related business practices, and the most recent complaint didn’t plausibly plead historical financial figures had become misleading ...