NEW YORK, Feb. 06, 2025 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Western District of Washington on behalf of all persons or entities who purchased or otherwise acquired Monolithic Power Systems, Inc. (“Monolithic Power” or the “Company”) (NASDAQ: MPWR) securities between February 8, 2024 and November 8, 2024, inclusive (the “Class Period”).
The Complaint alleges that Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Monolithic Power’s voltage regulator modules and power management integrated circuits were suffering from significant performance and air quality issues; (2) these defects had, in turn, negatively impacted the performance of certain products offered by Nvidia in which such products were used; (3) Monolithic Power had failed to adequately address and resolve known issues affecting the performance of the power management solutions that it supplied to Nvidia; (4) Monolithic Power’s 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’s failure to adequately address such issues; and (5) as a result of the above, Monolithic Power was acutely exposed to material undisclosed risks of significant business, financial, and reputational harm. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of Monolithic Power should contact the Firm prior to the April 7, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
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