WOLF DEADLINE NOTICE: ROSEN, LEAD INVESTOR ADVISOR, encourages investors of Wolfspeed, Inc. to secure counsel before the important Jan. 17 deadline for the securities class action

New York, New York–(Newsfile Corp. – December 28, 2024) – WHY: The Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Wolfspeed, Inc. (NYSE: NYSE: ) between August 16, 2023 and November 6, 2024, both dates inclusive (the “Class Period”), on an important January 17, 2025, the deadline of the chief prosecutor.

SO WHAT: If you purchased securities of Wolfspeed, you may be entitled to compensation without paying any fees or out-of-pocket expenses through a contingency fee agreement.

WHAT TO DO NEXT: To join the Wolfspeed class action, go to https://rosenlegal.com/submit-form/?case_id=30954 or call Phillip Kim, Esq. toll free at 866-767-3653 or email case@rosenlegal.com for information about the class action. A class action lawsuit has already been filed. If you want to be the chief prosecutor, you have to move the court no later than January 17, 2025. The lead plaintiff is the representative party that acts on behalf of the other class members in the conduct of the litigation.

WHY ROSEN’S LAW: We encourage investors to choose a qualified advisor with experience in successful leadership roles. Often the firms issuing the notices do not have comparable experience, resources or any significant recognition from their peers. Many of these firms do not actually initiate securities class actions, but are merely brokers who refer clients or are partners with the law firms that actually initiate the cases. Be wise in choosing an advisor. The Rosen Law Firm represents investors worldwide, concentrating its practice in securities class actions and equity derivative litigation. The Rosen Law Firm secured the largest securities class action settlement to date against a Chinese company at the time. The Rosen Law Firm is ranked #1 by ISS Securities Class Action (WA:) Services for numerous securities class action settlements in 2017. The firm has been ranked in the top 4 every year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone, the company secured more than $438 million for investors. In 2020, founding partner Laurence Rosen was named a Law360 Claimant Bar Association Titan. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.

CASE DETAILS: The alleged representations in this lawsuit relate to the Wolfspeed Mohawk Valley plant in New York. The complaint alleges that the defendants provided the public with revenue projections that depended on the Mohawk Valley manufacturing facility increasing its production to meet and/or exceed demand for its 200 mm wafer product.

According to the lawsuit, the defendants made these highly positive statements to investors while simultaneously misrepresenting and/or concealing material adverse facts regarding the true state of Wolfspeed’s growth potential and, in particular, the operational status and profitability of the Mohawk Valley manufacturing facility. First, to meet its publicly announced projections, Wolfspeed would have to cancel or otherwise indefinitely suspend planned future projects such as the facility in Saarland, Germany. Second, Wolfspeed would have to lay off a significant portion of its workforce and close its manufacturing facility in Durham, North Carolina. When the true details came to market, the lawsuit alleges, investors suffered damages.

To join the Wolfspeed class action, go to https://rosenlegal.com/submit-form/?case_id=30954 or call Phillip Kim, Esq. toll free at 866-767-3653 or email case@rosenlegal.com for information about the class action.

No class is certified. Until the class is certified, you will not be represented by an attorney unless you retain one. You can choose a lawyer of your choice. You can also remain an absent member of the class and do nothing at this time. An investor’s ability to participate in a potential future recovery does not depend on whether it is the lead plaintiff.

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To view the original version of this press release, visit https://www.newsfilecorp.com/release/235417