Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Western District of Washington on behalf of shareholders of Monolithic Power Systems, Inc. who purchased shares between February 8, 2024 and November 8, 2024.
Monolithic Power and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 11, 2024, Edgewater Research analysts published a report revealing that Nvidia, the Company’s largest customer, had cancelled half of its outstanding Monolithic Power orders and intended to eliminate Monolithic Power Systems’ allocation to most variants of its next-generation Blackwell chips due to “[p]erformance issues” with the Company’s products, and that Nvidia engineers had “lost confidence” in the Company’s products and decided to turn to its competitors as “primary suppliers.”
On this news, the price of Monolithic Power’s shares fell more than 17%.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until April 7, 2025 to request that the court appoint them lead plaintiff.