WOLF INVESTOR NOTICE: Wolfspeed, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

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].