The beaten-down chipmaker saw more insider buying and a potential lift from California's governor.Shares of Wolfspeed (WOLF 17.00%) were rocketing higher today, up 15.1% as of 2:26 p.m. ET.The big move higher follows a massive 31% move on Friday, continuing a vicious bounce off of the company's recent lows. Still, Wolfspeed's stock was down over 80% on the year entering the day, showing just how far this once-highly touted chip stock had fallen.Still, today saw more good news, with another insider disclosin ...

SAN DIEGO, Nov. 24, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a class action was filed on behalf of all persons and entities that purchased or otherwise acquired Wolfspeed, Inc. (NYSE: WOLF) securities between August 16, 2023 and November 6, 2024. Wolfspeed is a global semiconductor company focused on silicon carbide materials and the fabrication of devices for power applications. For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The ...

NEW YORK, Nov. 23, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Wolfspeed, Inc. (NYSE: WOLF) between August 16, 2023 and November 6, 2024, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 17, 2025. SO WHAT: If you purchased Wolfspeed securities you may be enti ...

SAN DIEGO, Nov. 23, 2024 (GLOBE NEWSWIRE) -- The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Wolfspeed, Inc. (NYSE: WOLF) securities between August 16, 2023 and November 6, 2024, both dates inclusive (the “Class Period”), have until January 17, 2025 to seek appointment as lead plaintiff of the Wolfspeed class action lawsuit. Captioned Zagami v. Wolfspeed, Inc., No. 24-cv-01395 (N.D.N.Y.), the Wolfspeed class action lawsuit charges Wolfspeed as well as certain of Wo ...

Lawsuit Overview - A securities class action lawsuit has been filed against Wolfspeed Inc in the United States District Court for the Northern District of New York on behalf of investors who purchased or acquired Wolfspeed securities between August 16 2023 and November 6 2024 [1] - The lead plaintiff deadline is January 17 2025 [1] Allegations Against Wolfspeed - Defendants allegedly made false and/or misleading statements and/or failed to disclose that Wolfspeed's optimistic claims of potential growth of its Mohawk Valley fabrication facility and general demand for its 200mm wafers in the electronic vehicle market fell short of reality [3] - Wolfspeed allegedly overstated demand for its key product and placed undue reliance on purported design wins while the Mohawk Valley facility's growth had begun to taper before recognizing the $100 million revenue per quarter allegedly achievable with only 20% utilization of the fabrication let alone the promised $2 billion revenue purportedly achievable by the facility [3] Lead Plaintiff Process - Wolfspeed investors may seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check LLP or other counsel no later than January 17 2025 [4] - The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors [4] - The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys if approved by the court are lead or class counsel [4] About Kessler Topaz Meltzer & Check LLP - Kessler Topaz Meltzer & Check LLP prosecutes class actions in state and federal courts throughout the country and around the world [6] - The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct [6]

Core Insights - Recent updates regarding Wolfspeed (WOLF) have been discussed, highlighting the company's performance and market position [1]. Company Summary - Wolfspeed's stock price was noted at 17.08% on the trading day of November 21, 2024, indicating a significant interest in the company's shares [2].

NEW YORK, Nov. 21, 2024 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Wolfspeed, Inc. (NYSE: WOLF) between August 16, 2023 and November 6, 2024, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 17, 2025.So What: If you purchased Wolfspeed securities you may be entitled to com ...

NEW YORK, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Wolfspeed, Inc. ("Wolfspeed" or the "Company") (NYSE: WOLF) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Wolfspeed investors who were adversely affected by alleged securities fraud between August 16, 2023 and November 6, 2024. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/wolfspeed-lawsuit-submiss ...

NEW YORK, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announces that a shareholder has filed a securities class action lawsuit on behalf of investors (the “Class”) who purchased or acquired the securities of Wolfspeed, Inc. (“Wolfspeed” or the “Company”) (NYSE: WOLF) between August 16, 2023 and November 6, 2024, inclusive. For more information, submit a form at Wolfspeed, Inc. Shareholder Class Action Lawsuit, email Investor Relations Manager Peter Allocco at pallocco@bernlieb.com, or call us a ...

Core Viewpoint - The article discusses a class action lawsuit against Wolfspeed, Inc. for alleged violations of the Securities Exchange Act of 1934, focusing on misleading statements regarding the company's growth and demand for its products during a specified class period [1][3]. Company Overview - Wolfspeed operates as a bandgap semiconductor company specializing in silicon carbide and gallium nitride (GaN) technologies [2]. Allegations of the Lawsuit - The lawsuit claims that Wolfspeed and its executives made false statements about the growth potential of its Mohawk Valley fabrication facility and the demand for its 200mm wafers in the electric vehicle market [3]. - It is alleged that Wolfspeed overstated demand for its key products and relied excessively on design wins, while the growth of the Mohawk Valley facility had already begun to decline [3]. - The lawsuit highlights that Wolfspeed's claim of achieving $100 million in quarterly revenue with only 20% utilization was misleading, as actual results showed a shortfall of 30% to 50% below that mark [4]. Financial Impact - On November 6, 2024, Wolfspeed reported financial results indicating that the anticipated revenue from the Mohawk Valley facility would not be met, leading to a significant stock price drop of over 39% following the announcement [4]. Lead Plaintiff Process - The Private Securities Litigation Reform Act of 1995 allows investors who purchased Wolfspeed securities during the class period to seek appointment as lead plaintiff in the lawsuit, representing the interests of the class [5]. Law Firm Background - Robbins Geller Rudman & Dowd LLP is a prominent law firm specializing in securities fraud cases, having secured over $6.6 billion for investors in class action cases, making it one of the largest plaintiffs' firms globally [6].