LOS ANGELES, CA / ACCESSWIRE / November 23, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Wolfspeed, Inc. ("Wolfspeed" or "the Company") (NYSE:WOLF) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between August 16, 2023 and November 6, 2024, inclusive (the "Class Period"), are encouraged to contact the firm before January 17, 2025.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Wolfspeed misled the market with revenue projections that relied on its Mohawk Valley fabrication plant meeting demand for its 200mm wafer product. The Company later guided its projections lower, claiming the reason to be demand "ramping more slowly than we originally anticipated" as "EV customers revise their launch time lines as the market works though this transition period." Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Wolfspeed, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]
SOURCE: The Schall Law Firm