Mobileye Investors Seem Unlikely to Have Inventory Suit Revived

Mobileye Global Inc. investors met a tough appellate panel Thursday in their bid to reopen a proposed class action alleging the driver-assist chip maker misled them over their inventory practices.

The US Court of Appeals for the Second Circuit pressed back on attorney’s claims that Mobileye needed to disclose more information about its minimum market contracts, citing a lack of allegations that their customers were forced into those commitments.

One circuit judge mentioned Mobileye’s warning that its customers might work through their own inventory first, potentially impacting the company down the road. She asked if that wasn’t a “direct notice ...