#United States #New York #Securities Fraud #Wolfspeed #Levi Korsinsky

Important Update on Wolfspeed Class Action Lawsuit

Levi & Korsinsky, LLP has informed investors of Wolfspeed, Inc. regarding an essential deadline related to a securities class action lawsuit. The lawsuit specifically targets losses incurred due to alleged securities fraud that occurred between August 16, 2023, and November 6, 2024. Investors are urged to take action before January 17, 2025, which marks the cut-off date for filing to become the lead plaintiff.

Understanding the Lawsuit

The crux of the complaint against Wolfspeed stems from the company's public forecast regarding expected revenues from its Mohawk Valley fabrication facility. Initially, Wolfspeed claimed that achieving a utilization rate of 20% would lead to $100 million in revenue from this facility. However, in a surprising announcement made on November 6, 2024, Wolfspeed revealed that its actual performance was disappointing; they adjusted their forecasts downward by as much as 50% from the previously stated figures. This revelation caused a substantial drop in the stock price. On the date of the announcement, Wolfspeed's stock plummeted from $13.71 per share to just $8.33, representing a staggering decline of approximately 39.24% in one single day.

Who Should Consider Joining the Lawsuit

Investors who faced financial losses during the stated time period are highly encouraged to consider filing as a lead plaintiff. According to Levi & Korsinsky, becoming a lead plaintiff garners a significant chance to share in any potential recoveries that result from the case. Moreover, the firm clarifies that you do not need to assume this role to benefit from any compensation awarded to investors.

No Financial Obligation

It is critical to highlight that participating in this lawsuit comes at no cost to the investor. Compensation may be accessible without the need for out-of-pocket expenses. In light of this, the opportunity for affected shareholders to recover their losses is both open and financially feasible.

Why Choose Levi & Korsinsky

With over two decades of experience, Levi & Korsinsky boasts a remarkable history of securing hundreds of millions of dollars for shareholders facing the aftermath of securities fraud. The firm has consistently ranked among the top securities litigation firms in the United States, as evidenced by their seven consecutive years on ISS Securities Class Action Services' prestigious Top 50 Report. This reputation emphasizes their effectiveness and dedication to investing rights and legal representation.

Contact Information

If you believe you qualify as a member of the class affected by the alleged securities fraud involving Wolfspeed, you should not miss this opportunity. Leverage your rights as an investor by contacting Levi & Korsinsky for a consultation. You can reach out via email at [email protected] or by calling Joseph E. Levi, Esq. directly at (212) 363-7500.

Address for Correspondence:
Levi & Korsinsky, LLP
33 Whitehall Street, 17th Floor
New York, NY 10004

For further information regarding the lawsuit or to get updates, consider visiting their website at zlk.com.

Make sure you act promptly, as the deadline to register your interest is fast approaching. Protect your financial interests, and don't miss your chance to recover losses incurred from potential securities fraud involving Wolfspeed, Inc.