IRVINE, Calif., Nov. 17, 2025 (GLOBE NEWSWIRE) -- Mobix Labs, Inc. (NASDAQ: MOBX) (“Mobix”), a fast-growing semiconductor and defense-technology company, announced today that it has filed a Verified Complaint in the Delaware Court of Chancery alleging that Tik Yang Tse (also known as Denis Tse), ACE Equity Partners International, Asia-IO Equity Partners International, and ACE SO4 Holdings Limited engaged in fraudulent conduct, intentional misrepresentations, and a breach of contract governing ACE’s binding investment obligations.
The Verified Complaint alleges that the lawsuit “arises from Defendant ACE’s failure to deliver $30 million in financing that it was contractually obligated to fund” in connection with Mobix’s business combination which took place in 2023. According to the filing, “ACE never delivered the $30 million it was required to fund under the Subscription Agreement.”
The Complaint makes specific allegations against Denis Tse, asserting that he “personally participated in the negotiations and misrepresentations alleged herein” and “knowingly, intentionally and falsely induced Plaintiff to enter into the Subscription Agreement.”
The filing alleges that Tse repeatedly represented that ACE and its affiliates had the financial capacity to honor a major investment—statements Mobix contends were untrue and misleading. The Complaint also alleges that defendants used Mobix’s materials and reputation to benefit themselves while creating a false impression of affiliation and support.
Mobix is seeking over $250 million in damages as well as punitive damages, along with specific performance requiring ACE to fund the $30 million equity investment it agreed to deliver.
The defendants have not yet responded. All descriptions above are based on allegations in the Verified Complaint, which has not yet been adjudicated by the Court.
About Mobix Labs, Inc.
Based in Irvine, California, Mobix Labs is a fabless semiconductor company delivering advanced wireless and wired connectivity, RF, switching, and filtering technologies for next-generation communication systems. Our solutions support aerospace, defense, 5G, medical, industrial, and other high-reliability markets. For more information, visit mobixlabs.com.
Forward-Looking Statements and Litigation Cautionary Notice
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include, without limitation, statements regarding the Company’s legal claims; the damages, remedies, or relief sought in the Verified Complaint; the anticipated course, timing, or outcome of the litigation; the Company’s business strategy, operational performance, and financial outlook; and any other statements that are not historical facts. Forward-looking statements are based on current expectations, estimates, assumptions, and beliefs and are subject to a number of known and unknown risks, uncertainties, and factors—many of which are outside of the Company’s control—that could cause actual results to differ materially from those expressed or implied by such statements.
These risks and uncertainties include, among others: risks related to the inherent unpredictability of litigation and dispute-resolution processes; the possibility that the Company may not obtain the damages or equitable relief it seeks; the timing, cost, and outcome of the litigation; risks relating to our liquidity, operations, financial performance, and access to capital; customer demand and market conditions; supply-chain and manufacturing risks; competitive pressures; and other factors described in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including its most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
The legal matters referenced in this press release relate to allegations contained in a Verified Complaint filed by Mobix Labs, Inc. (“Mobix”) in the Delaware Court of Chancery. All statements describing the defendants’ conduct, the nature of the claims, or the relief sought are based solely on the allegations in that filing. These allegations have not been proven in court, remain subject to challenge by the defendants, and will be resolved through the judicial process. Nothing in this press release is intended to state or imply that any defendant has engaged in wrongdoing beyond the allegations asserted in the Verified Complaint.
The forward-looking statements and litigation-related statements in this press release speak only as of the date hereof. Mobix undertakes no obligation to update or revise any forward-looking statements, litigation-related statements, or other disclosures to reflect events, circumstances, or developments occurring after the date of this release, except as required by applicable law. Readers are cautioned not to place undue reliance on these statements.
Media Contact:
Chris Lancaster
clancaster@mobixlabs.com
