Wolfspeed(US:WOLF) Prnewswireยท2024-12-20 17:30Core 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].