Investors Urged to Join Class Action Against Wolfspeed, Inc.

LOS ANGELES, Nov. 20, 2024 /PRNewswire/ — The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Wolfspeed, Inc. (“Wolfspeed” or “the Company”) 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.

Important Deadline for Class Period Investors

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.

How to Participate

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to reach out to Brian Schall of the Schall Law Firm, located at 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also visit the firm’s website at www.schallfirm.com or email at bschall@schallfirm.com.

Legal Status of the Class

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.

Allegations Against Wolfspeed

According to the Complaint, the Company made false and misleading statements to the market. Wolfspeed allegedly misled investors with revenue projections based on its Mohawk Valley fabrication plant meeting demand for its 200mm wafer product. The Company later lowered its projections, citing demand “ramping more slowly than we originally anticipated” as “EV customers revise their launch time lines as the market works through this transition period.” Because of these actions, the Company’s public statements were deemed false and materially misleading during the class period. Once the market learned the truth about Wolfspeed, investors suffered damages.

Invitation to Join the Class Action

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
info@schallfirm.com

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SOURCE The Schall Law Firm