Investment

Wolfspeed Investors Warned of Important Class Action Deadline

Published December 26, 2024

NEW YORK, Dec. 26, 2024 (GLOBE NEWSWIRE) -- Rosen Law Firm, a leading global investor rights firm, is reminding individuals who purchased securities of Wolfspeed, Inc. (NYSE: WOLF) between August 16, 2023, and November 6, 2024 (the "Class Period"), about a significant deadline approaching for potential class action participation.

Important Deadline: Investors are advised that the cutoff date to file as a lead plaintiff in the class action lawsuit against Wolfspeed is January 17, 2025.

Eligibility for Compensation: If you are among those who purchased Wolfspeed securities during the specified period, you may be eligible for compensation. This can be pursued without incurring any upfront legal fees, as arrangements operate on a contingency basis.

Steps to Take: To become part of the class action, interested parties should visit this link or contact Phillip Kim, Esq. at 866-767-3653 or via email at [email protected] for detailed information. A class action has already been initiated, and those wishing to act as lead plaintiffs must file their motions with the court by January 17, 2025. A lead plaintiff represents other investors in overseeing the case proceedings.

Rosen Law Firm's Credentials: The firm encourages investors to choose counsel with proven achievements in similar class actions. Many firms that send out notices may lack the necessary experience and could simply refer clients to other firms. In contrast, Rosen Law Firm has a strong history in securities class actions and shareholder derivative litigation and has achieved the highest settlements against Chinese companies historically. They have been ranked by ISS Securities Class Action Services as a top firm in this field and have recovered substantial amounts for investors, including over $438 million in 2019.

Background of the Case: The lawsuit centers around Wolfspeed’s Mohawk Valley fabrication facility in New York. Allegations claim that Wolfspeed misrepresented its revenue projections based on this facility, which was expected to ramp up production significantly. However, it is claimed that the firm failed to disclose crucial facts that suggested otherwise, misguiding investors about its ability to meet growth expectations and the facility's operational viability.

This included potential project cancellations and reductions in workforce, notably impacting its North Carolina operations if its projections were to be realized. When the actual information came to light, it is alleged that investors experienced losses.

Next Steps for Interested Investors: To join the Wolfspeed class action lawsuit, either visit the provided link or reach out to Phillip Kim, Esq. at 866-767-3653 or email [email protected].

Please Note: A class has not yet been certified, meaning you need to retain legal representation independently if you choose. You also have the option to remain absent from the proceedings and still benefit from any future recovery.

Stay tuned for updates by following the Rosen Law Firm on platforms like LinkedIn and Twitter.

Attorney Advertising. Past outcomes do not guarantee similar results.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

Wolfspeed, lawsuit, investors