Class Action Lawsuit Initiated Against Wolfspeed: Investors Seek Justice
Class Action Lawsuit Against Wolfspeed, Inc.
Recently, a significant class action lawsuit has been initiated against Wolfspeed, Inc. (NYSE: WOLF), aimed at recovering losses suffered by investors from alleged securities fraud. The firm leading this action, Levi & Korsinsky, LLP, notified parties potentially impacted by this fraud that they may be eligible for participation in the lawsuit.
Details of the Case
The lawsuit pertains to a timeframe from August 16, 2023, to November 6, 2024, during which claims of inflated revenue projections created an unrealistic outlook for investors. Specifically, Wolfspeed’s leadership had communicated expectations related to the production capabilities of their Mohawk Valley fabrication facility, asserting that achieving just 20% utilization would yield $100 million in revenue. However, this claim came into question when they adjusted their projections significantly lower during the announcement of their Q1 fiscal results for 2025.
On November 6, 2024, the company reported financial outcomes that not only disappointed stakeholders but also guided expectations for the upcoming quarter considerably downward. These new projections indicated that demand was
Topics Financial Services & Investing）
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