NEW YORK - February 8, 2025 (NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Monolithic Power Systems, Inc. (“Monolithic Power” or the “Company”) (NASDAQ: MPWR) on behalf of all purchasers of Monolithic Power common stock between February 8, 2024 and November 8, 2024, inclusive (the “Class Period”).
If you are an investor in Monolithic Power and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing jcampisi@kaplanfox.com or by calling (212) 329-8571.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than April 7, 2025 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that (i) Monolithic Powers’ voltage regulator modules and power management integrated circuits were suffering from significant performance and quality control issues; (ii) these defects had, in turn, negatively impacted the performance of certain products offered by Nvidia in which such products were used; (iii) Monolithic Power had failed to adequately address and resolve known issues affecting the performance of the power management solutions Monolithic Power Systems supplied to Nvidia; and (iv) Monolithic Power relationship with Nvidia had been irreparably damaged due to the significant performance and quality control problems affecting the products it supplied to Nvidia and Monolithic Power Systems' failure to adequately address such issues.
The complaint further alleges that on October 30, 2024, Monolithic Power released its third quarter 2024 financial results, disclosing that its Enterprise Data revenue had declined sequentially during the quarter to $184 million, missing consensus estimates by nearly 13%, and that during the corresponding conference call, the Company’s Chief Financial Officer, Bernie Blegen, revealed that customer orders had fallen materially below recent historical trends, which had negatively impacted the Company’s Enterprise Data revenues and was set to limit segment growth in the upcoming quarter to low single digits.
Following this news, the price of Monolithic Powers’ stock fell $160.51 per share, over 17%, to close at $759.30 per share on October 31, 2024.
Then, on November 11, 2024, the complaint alleges that Edgewater Research analysts published a report “revealing that Nvidia had canceled half of its outstanding Monolithic orders and intended to eliminate the Company’s allocation to most variants of its next-generation Blackwell chips due to ‘[p]erformance issues’ with the Company’s products.”
On this news, the price of Monolithic Powers’ stock fell $113.99 per share, nearly 15%, to close at $647.31 per share on November 11, 2024.
WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.
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If you have any questions about this Notice, your rights, or your interests, please contact:
CONTACT:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(212) 329-8571
jcampisi@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
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