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.
