#United States #New York #Class Action #Levi & Korsinsky #Wolfspeed

Wolfspeed Investors Alert: Class Action Lawsuit

Levi & Korsinsky, LLP has informed investors of Wolfspeed, Inc. (NYSE: WOLF) regarding a class action lawsuit aimed at recovering losses linked to the company's alleged securities fraud within a specific time frame. This legal action targets shareholders who experienced adverse financial impacts between August 16, 2023, and November 6, 2024.

The Class Action Overview

The lawsuit was triggered by significant discrepancies in revenue projections associated with Wolfspeed's Mohawk Valley fabrication facility. Initially, Wolfspeed projected that 20% utilization of this facility would yield revenues of $100 million. However, following a disappointing earnings report on November 6, 2024, the company revised its revenue guidance downwards, projecting results between 30% to 50% less than expected, attributing this to slower than anticipated demand and revised timelines from Electric Vehicle (EV) customers.

This shocking news led to a dramatic decline in Wolfspeed's stock prices, plummeting from $13.71 to $8.33 per share – a drop of approximately 39.24% in just one day, which raised immediate concerns among investors about the company's reliability and transparency.

What This Means for Investors

For those who invested in Wolfspeed during the specified period and experienced financial loss, it is crucial to act swiftly. The deadline to request to be appointed as lead plaintiff is January 17, 2025. However, it's worth noting that participation in the recovery process does not require being the lead plaintiff.

The law firm emphasizes that there are no out-of-pocket costs associated with joining this class action. Investors can gain compensation for eligible claims without financial obligation.

Why Choose Levi & Korsinsky

The legal team at Levi & Korsinsky possesses over two decades of experience in securing substantial settlements for aggrieved shareholders. The firm has garnered a reputation as one of the top securities litigation firms nationally, as indicated by ISS Securities Class Action Services' ranking in the Top 50 Report for seven consecutive years.

Investors facing losses during this tumultuous period are encouraged to reach out to Joseph E. Levi at Levi & Korsinsky for guidance. The firm’s commitment to protecting investor rights and ensuring transparency in the market is reflected in its vast experience and successful litigation history.

To learn more, stakeholders can follow the provided link here to initiate their claims or contact the firm directly:

Contact Information:
Joseph E. Levi, Esq.
Levi & Korsinsky, LLP
33 Whitehall Street, 17th Floor
New York, NY 10004
Email: [email protected]
Phone: (212) 363-7500

As this situation unfolds, investors are advised to stay informed and proactive about their rights and options. The outcome of this class action could significantly impact their financial recovery.