Core Viewpoint - A securities class action lawsuit has been filed against Wolfspeed, Inc. for allegedly making false and misleading statements regarding its growth potential and product demand during the specified class period from August 16, 2023, to November 6, 2024 [7][8]. Group 1: Lawsuit Details - The lead plaintiff deadline for investors to seek representation is January 17, 2025 [6][7]. - The lawsuit is being prosecuted by Kessler Topaz Meltzer & Check, LLP, a firm known for recovering billions for victims of corporate misconduct [3][4]. Group 2: Allegations Against Wolfspeed - The complaint alleges that Wolfspeed overstated the growth potential of its Mohawk Valley fabrication facility and the demand for its 200mm wafers in the electric vehicle market [8]. - It is claimed that Wolfspeed's optimistic revenue projections, including a $100 million revenue per quarter with only 20% utilization and a promised $2 billion revenue, were not realistic [8].

NEW YORK, Dec. 19, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Wolfspeed, Inc. (NYSE: WOLF).Shareholders who purchased shares of WOLF during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/wolfspeed-loss-submission-form/?id=117263&from=4CLASS PERIOD: August 16, 2023 to November 6 ...

NEW YORK, Dec. 18, 2024 (GLOBE NEWSWIRE) --  The Gross Law Firm issues the following notice to shareholders of Wolfspeed, Inc. (NYSE: WOLF). Shareholders who purchased shares of WOLF during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/wolfspeed-loss-submission-form/?id=117005&from=3 CLASS PERIOD: August 16, 2023 to N ...

A lot can happen in a year. Just look at semiconductor specialist Wolfspeed (WOLF -1.88%). Last December, its stock reached a 52-week high of $47.43. Last month, the shares hit a low of $6.10.During this past year, as part of a strategic shift, the company divested itself of its radio-frequency (RF) devices business. Also, its CEO exited the company. Those were just some of the changes that affected the beleaguered stock.As of Dec. 13, Wolfspeed shares were down by more than 80% in 2024. Does this mean it's ...

Core Insights - Wolfspeed's silicon carbide chips are positioned for significant success in the semiconductor market due to their efficiency and performance advantages [1] - Despite the potential, there are considerable risks associated with investing in Wolfspeed, including market competition and technological challenges [1] Company Overview - Wolfspeed specializes in silicon carbide technology, which is crucial for high-performance applications in electric vehicles and renewable energy [1] - The company is recognized for its innovative approach in the semiconductor industry, focusing on sustainability and energy efficiency [1] Market Potential - The demand for silicon carbide chips is expected to grow substantially, driven by the increasing adoption of electric vehicles and advancements in power electronics [1] - Wolfspeed's technology could capture a significant share of the expanding market, potentially leading to substantial revenue growth [1] Investment Risks - The semiconductor industry is highly competitive, with numerous players vying for market share, which poses a risk to Wolfspeed's growth prospects [1] - Technological advancements by competitors could impact Wolfspeed's market position and profitability [1]

Core Viewpoint - Wolfspeed, Inc. has faced significant stock price decline following disappointing financial results and lowered guidance, attributed to slower-than-expected demand ramp-up from electric vehicle (EV) customers [2]. Group 1: Financial Performance - Wolfspeed announced its financial results for Q1 of fiscal year 2025 on November 6, 2024, revealing guidance for Q2 that was well below market expectations [2]. - The company had previously projected that 20% utilization of its Mohawk Valley fabrication facility would yield $100 million in revenue, but now expects a revenue range that is 30% to 50% below that figure [2]. - Following the announcement, Wolfspeed's stock price plummeted from $13.71 per share to $8.33 per share, marking a decline of approximately 39.24% in just one day [2]. Group 2: Class Action Notice - Shareholders who purchased shares of Wolfspeed during the class period from August 16, 2023, to November 6, 2024, are encouraged to contact the Gross Law Firm regarding potential lead plaintiff appointment [1][2]. - The deadline for shareholders to register for the class action is January 17, 2025, and there is no cost or obligation to participate [3]. - Once registered, shareholders will be enrolled in a portfolio monitoring software to receive updates throughout the case lifecycle [3]. Group 3: Legal Context - The Gross Law Firm aims to protect investors' rights who have suffered losses due to misleading statements or omissions by companies, which can lead to artificial inflation of stock prices [4].

RADNOR, Pa., Dec. 14, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com)  informs investors that a securities class action lawsuit has been filed against Wolfspeed, Inc. ("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 lead plaintiff deadline is January 17, 2025.CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:If you suffered Wolfspeed losses, ...

Core Viewpoint - A class action lawsuit has been filed against Wolfspeed, Inc. for allegedly making false statements and failing to disclose critical information regarding its business performance and growth potential during the specified class period [3][4]. Company Overview - Wolfspeed, Inc. is a semiconductor company that specializes in bandgap technologies, particularly silicon carbide and gallium nitride (GaN) [3]. Allegations in the Lawsuit - The lawsuit claims that Wolfspeed exaggerated the growth potential of its Mohawk Valley fabrication facility and the demand for its 200mm wafers in the electric vehicle (EV) market [3]. - It is alleged that the company overstated demand for its core products and relied excessively on projected design wins, while growth at the Mohawk Valley facility had already begun to slow [3]. - Wolfspeed misrepresented the ability of the Mohawk Valley facility to achieve $100 million in quarterly revenue at just 20% utilization, and the promised $2 billion revenue target was deemed unrealistic [3]. Financial Performance and Market Reaction - On November 6, 2024, Wolfspeed announced its financial results for the first quarter of fiscal year 2025, revealing that the actual performance of the Mohawk Valley facility was significantly below expectations [4]. - The facility's 20% utilization would result in revenue being 30% to 50% lower than the previously projected $100 million [4]. - The company attributed the revenue shortfall and lowered guidance to slower-than-expected demand, noting that EV customers were adjusting their launch timelines [4]. - Following this announcement, Wolfspeed's stock price dropped by more than 39% [4].

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Wolfspeed, Inc. regarding a class action lawsuit due to significant stock price decline following disappointing financial results and guidance [1][2]. Group 1: Allegations and Financial Impact - The allegations state that Wolfspeed provided overly optimistic revenue projections based on the expected ramp-up of its Mohawk Valley fabrication facility, which did not materialize as anticipated [2]. - On November 6, 2024, Wolfspeed announced financial results for Q1 FY2025 and provided guidance for Q2 that was significantly below market expectations, attributing this to slower-than-expected demand from EV customers [2]. - Following the announcement, Wolfspeed's stock price plummeted from $13.71 per share to $8.33 per share on November 7, 2024, marking a decline of approximately 39.24% in just one day [2]. Group 2: Class Action Details - The class period for the lawsuit is defined as August 16, 2023, to November 6, 2024, and shareholders are encouraged to register for participation [2][3]. - The deadline for shareholders to seek lead plaintiff status is January 17, 2025, and there is no cost or obligation to participate in the case [3]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the lifecycle of the case [3]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and illegal business practices [4]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [4].

Core Viewpoint - The article discusses a class action lawsuit against Wolfspeed, Inc. due to significant financial losses and misleading statements made by the company regarding its business operations and market demand for its products during the specified class period [1][5]. Financial Performance - On November 6, 2024, Wolfspeed reported its first quarter fiscal 2025 financial results, revealing that second quarter guidance was significantly below expectations due to slower-than-anticipated demand from electric vehicle (EV) customers [3]. - The company projected revenue from its Mohawk Valley fabrication facility to be 30% to 50% below the previously estimated $100 million [3]. Stock Market Reaction - Following the release of disappointing financial results, Wolfspeed's stock price dropped by $5.38, or 39.2%, closing at $8.33 per share on November 7, 2024, resulting in investor losses [4]. Allegations in Class Action - The class action complaint alleges that Wolfspeed made materially false and misleading statements and failed to disclose adverse facts about its business and operations, including overstating demand for its key product and reliance on design wins [5]. - It is claimed that the company's growth had begun to taper before achieving the projected revenue, and that positive statements made by the company lacked a reasonable basis [5].