WOLF INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Announces that Wolfspeed, Inc. Investors with Substantial Losses Have Opportunity to Lead Investor 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]. Group 1: Lawsuit Details - The class action lawsuit is titled Zagami v. Wolfspeed, Inc., and it involves purchasers of Wolfspeed securities from August 16, 2023, to November 6, 2024 [1]. - The lawsuit alleges that Wolfspeed and its executives made false claims about the growth potential of its Mohawk Valley fabrication facility and overstated demand for its 200mm wafers in the electric vehicle market [3]. - On November 6, 2024, Wolfspeed reported financial results indicating that the expected revenue from the Mohawk Valley facility would be 30% to 50% below the claimed $100 million mark, leading to a stock price drop of over 39% [4]. Group 2: Company Background - Wolfspeed operates as a bandgap semiconductor company specializing in silicon carbide and gallium nitride (GaN) technologies [2]. - The company had previously projected significant revenue potential from its Mohawk Valley facility, claiming it could achieve $2 billion in revenue with only 20% utilization [3]. Group 3: Legal Process - Investors who purchased Wolfspeed securities during the class period can seek appointment as lead plaintiff in the lawsuit, which allows them to represent the interests of the class [5]. - The lead plaintiff can choose a law firm to litigate the case, and participation as lead plaintiff does not affect an investor's ability to share in any potential recovery [5]. Group 4: Law Firm Information - Robbins Geller Rudman & Dowd LLP is a leading law firm in securities fraud cases, having recovered $6.6 billion for investors in class action cases [6]. - The firm has been recognized for securing the most monetary relief for investors and has a significant presence with 200 lawyers across 10 offices [6].