NEW YORK, April 03, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Monolithic Power Systems, Inc. (“Monolithic” or the “Company”) (NASDAQ: MPWR). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Monolithic and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until April 7, 2025 to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Monolithic securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On October 30, 2024, in connection with reporting its third fiscal quarter of 2024 financial results, Monolithic revealed a slowdown in its Enterprise Data segment. The Company disclosed that its Enterprise Data revenue had declined sequentially during the quarter to $184 million, missing consensus estimates by nearly 13%. During an investor call held later that day, Chief Financial Officer Bernie Blegen revealed that customer order patterns had fallen materially below recent historical trends, which negatively impacted Enterprise Data sales in the quarter, and that this negative trend would continue.
On this news, Monolithic’s stock price fell $160.51 per share, or 17.45%, to close at $759.30 per share on October 31, 2024.
Then, on November 11, 2024, Edgewater Research analysts published a report revealing that Nvidia had canceled half of its outstanding Monolithic orders and intended to eliminate Monolithic as a supplier for Nvidia’s most-advanced Blackwell GPU variants due to persistent “[p]erformance issues” with the Company’s power modules. The report further revealed that Nvidia engineers had “lost confidence” in Monolithic after it failed to address performance issues in its voltage regulator model and that Nvidia had decided to pivot to Monolithic’s competitors as its “primary suppliers.”
On this news, Monolithic’s stock price fell $113.99 per share, or 14.97%, to close at $647.31 per share on November 11, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
