Kessler Topaz Meltzer & Check, LLP Announces Term in Wolfspeed, Inc. Investing.com Securities Fraud Class Action Lawsuit
Radnor, Pennsylvania–(Newsfile Corp. – January 5, 2025) – The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is notifying investors that a securities class action has been filed against Wolfspeed (NYSE: ), Inch. (“Wolfspeed”) (NYSE: WOLF ) on behalf of those who purchased or otherwise acquired Wolfspeed securities between August 16, 2023 and November 6, 2024, inclusive (the “Class Period”). The deadline for the chief prosecutor is January 17, 2025.
CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:
If you suffered Wolfspeed losses, you can CLICK HERE or go to: https://www.ktmc.com/new-cases/wolfspeed-inc?utm_source=PR&utm_medium=link&utm_campaign=wolf&mktm=r
You can also contact a lawyer Jonathan Naji, Esq. by calling (484) 270-1453 or by email at info@ktmc.com.
ALLEGED GOOD BEHAVIOR OF THE ACCUSED:
The complaint alleges that during the Lecture Period, the defendants made false and/or misleading statements and/or failed to disclose the following: (1) Wolfspeed’s optimistic claims about the potential growth of the Mohawk Valley manufacturing facility and the general demand for Wolfspeed’s 200mm wafers in the electronic vehicle market were not corresponded to reality; and (2) Wolfspeed overestimated demand for its core product and over-relied on purported design successes, while growth at the Mohawk Valley facility began to decline before recognizing the $100 million in revenue per quarter allegedly achievable with only 20% production utilization, let alone the promised $2 billion in revenue that can supposedly be generated by the facility.
Please CLICK HERE to watch our video or copy and paste this link into your browser: https://youtu.be/zMLfnSRjg2Y
PROCEDURE OF THE CHIEF PROSECUTOR:
Wolfspeed investors can, no later than January 17, 2025. seek to be appointed as lead class plaintiff representative through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. The lead plaintiff is the representative party that acts on behalf of all class members in the conduct of the litigation. The lead plaintiff is usually an investor or a small group of investors who have the greatest financial interest and who are also appropriate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and those attorneys, if approved by the court, are lead or class counsel. The decision whether or not to be the lead claimant does not affect your ability to participate in the recovery.
Kessler Topaz Meltzer & Check, LLP encourages Wolfspeed investors who have suffered significant losses to contact the firm directly for more information.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP litigates class actions in state and federal courts nationwide and around the world. The company has built a global reputation for excellence and has recovered billions of dollars from victims of fraud and other corporate wrongdoing. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by companies and fiduciaries. No appeals in this action were filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP, visit www.ktmc.com.
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