Lead Plaintiff Deadline is Approaching - Act Now

Wolfspeed, Inc.® Class Action

Zagami v. Wolfspeed, Inc. et al.

Wolfspeed, Inc.®

NASDAQ: WOLF

Class Period : 08/16/2023 - 11/06/2024

Lead Plaintiff Motion Deadline: 1/17/2025

A class action lawsuit against Wolfspeed, Inc. alleges the company misled investors about the progress and capabilities of its Mohawk Valley fabrication facility. Wolfspeed issued revenue projections heavily reliant on the facility's success, assuring stakeholders of its ability to meet or exceed production demands. Leadership praised the facility's performance and touted strong demand from its global electric vehicle (EV) customer base, claiming market underappreciation of the company’s potential. However, subsequent revelations painted a different picture, leaving shareholders with significant losses.  

Alleged Misstatements and Omissions  

Wolfspeed's leadership made several bold claims during the Class Period:  

  • Facility Progress: Leaders stated the Mohawk Valley facility was "on track" to reach 20% utilization and exceed yield expectations.  
  • Demand Visibility: Wolfspeed cited an intense EV demand scenario that exceeded supply.  
  • Investor Reassurance: Executives highlighted Wolfspeed's promising outlook and accused markets of undervaluing its stock.  

Contrary to these claims, Wolfspeed disclosed slower-than-expected demand growth and utilization rates far below predictions. The facility, expected to contribute $100 million in quarterly revenue at 20% utilization, delivered estimates closer to $50–$70 million.  

Effects on Stock Prices  

The reality of Wolfspeed's struggles became evident on November 6, 2024, when the company released disappointing financial results and lowered guidance for the next quarter. Key outcomes included:  

  • Revenue guidance between $160 million and $200 million—well below market expectations of $214 million.  
  • Mohawk Valley facility revenues are projected at $50–$70 million, half of earlier estimates.  
  • EV demand is described as slower than anticipated due to changing customer timelines.  

The fallout was swift. Wolfspeed's stock plummeted by nearly 40%, falling from $13.71 per share on November 6 to $8.33 on November 7. Analysts criticized Wolfspeed's lack of progress, with William Blair declaring the company a “broken stock" following CEO Gregg Lowe's departure.  

Legal Rights for Affected Shareholders 

If you owned Wolfspeed stock during the Class Period, you may have the right to join the class action lawsuit. Affected shareholders allege that Wolfspeed:  

  • Misled investors with false or overly optimistic statements.  
  • Failed to disclose the challenges facing the Mohawk Valley facility and EV market.  
  • Caused significant financial harm through omissions and misstatements.  

Joining the lawsuit can help you recover losses and hold Wolfspeed accountable. Uniting with other shareholders strengthens the case for justice and compensation.  

Take Action Today  

Time is of the essence for Wolfspeed investors. Legal deadlines for filing claims are strict; missing them could mean forfeiting your right to compensation. Here's how you can protect your interests:  

  1. Contact a Class Action Attorney: Speak with an experienced legal team that understands securities litigation.  
  2. Provide Documentation: Gather records of your Wolfspeed investments and any communications you received from the company.  
  3. Evaluate Your Case: Learn whether your losses qualify you for inclusion in the class action lawsuit.  

Don't wait—secure your legal rights now.

iStock-1429168394

DiCello Levitt Fights to Protect Shareholder Rights  

At DiCello Levitt, we hold corporations accountable when they betray investor trust. With extensive experience in securities litigation, our legal team has the knowledge and resources to fight for your financial recovery. We understand the impact these losses can have on you and your family.  

Contact us today for a free, private case evaluation. Our attorneys will review your case, help you understand your legal options, and work tirelessly to seek the compensation you deserve. Let us advocate for your rights and ensure your voice is heard.  

Take the first step toward justice. Call us now or fill out our online form to get started.

All victims affected by Wolfspeed, Inc.®'s alleged deceptive practices and failure to meet basic compliance standards should receive justice and potential compensation, beginning with a free, private case review with our experienced legal team.

The Importance of Joining a Class Action

Class action lawsuits can provide an efficient mechanism to compensate injured victims, hold wrongdoers accountable, or affect how a company or an industry operates.  Class actions allow injured parties to come together and take on larger adversaries.  By leveraging the power of a group class members the class can match the resources of a corporate defendant and put the parties on equal footing.

If you have been adversely affected by corporate misconduct, you may join DiCello Levitt’s class action lawsuit and help hold the wrongdoers responsible for their alleged misconduct, potentially recover your financial losses, and contribute to enforcing higher ethical, governance, and compliance standards.  Your participation can make a difference.

To learn more about how to join the lawsuit and your potential eligibility, please contact DiCello Levitt.  DiCello Levitt is committed to representing the interests of all affected parties and pursuing justice in this significant case.

Find Out if You may be a Member
of the Class

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Wolfspeed, Inc.® Class Action

Zagami v. Wolfspeed, Inc. et al.

Wolfspeed, Inc.®

NASDAQ: WOLF

Class Period : 08/16/2023 - 11/06/2024

Lead Plaintiff Motion Deadline: 1/17/2025

A class action lawsuit against Wolfspeed, Inc. alleges the company misled investors about the progress and capabilities of its Mohawk Valley fabrication facility. Wolfspeed issued revenue projections heavily reliant on the facility's success, assuring stakeholders of its ability to meet or exceed production demands. Leadership praised the facility's performance and touted strong demand from its global electric vehicle (EV) customer base, claiming market underappreciation of the company’s potential. However, subsequent revelations painted a different picture, leaving shareholders with significant losses.  

Alleged Misstatements and Omissions  

Wolfspeed's leadership made several bold claims during the Class Period:  

  • Facility Progress: Leaders stated the Mohawk Valley facility was "on track" to reach 20% utilization and exceed yield expectations.  
  • Demand Visibility: Wolfspeed cited an intense EV demand scenario that exceeded supply.  
  • Investor Reassurance: Executives highlighted Wolfspeed's promising outlook and accused markets of undervaluing its stock.  

Contrary to these claims, Wolfspeed disclosed slower-than-expected demand growth and utilization rates far below predictions. The facility, expected to contribute $100 million in quarterly revenue at 20% utilization, delivered estimates closer to $50–$70 million.  

Effects on Stock Prices  

The reality of Wolfspeed's struggles became evident on November 6, 2024, when the company released disappointing financial results and lowered guidance for the next quarter. Key outcomes included:  

  • Revenue guidance between $160 million and $200 million—well below market expectations of $214 million.  
  • Mohawk Valley facility revenues are projected at $50–$70 million, half of earlier estimates.  
  • EV demand is described as slower than anticipated due to changing customer timelines.  

The fallout was swift. Wolfspeed's stock plummeted by nearly 40%, falling from $13.71 per share on November 6 to $8.33 on November 7. Analysts criticized Wolfspeed's lack of progress, with William Blair declaring the company a “broken stock" following CEO Gregg Lowe's departure.  

Legal Rights for Affected Shareholders 

If you owned Wolfspeed stock during the Class Period, you may have the right to join the class action lawsuit. Affected shareholders allege that Wolfspeed:  

  • Misled investors with false or overly optimistic statements.  
  • Failed to disclose the challenges facing the Mohawk Valley facility and EV market.  
  • Caused significant financial harm through omissions and misstatements.  

Joining the lawsuit can help you recover losses and hold Wolfspeed accountable. Uniting with other shareholders strengthens the case for justice and compensation.  

Take Action Today  

Time is of the essence for Wolfspeed investors. Legal deadlines for filing claims are strict; missing them could mean forfeiting your right to compensation. Here's how you can protect your interests:  

  1. Contact a Class Action Attorney: Speak with an experienced legal team that understands securities litigation.  
  2. Provide Documentation: Gather records of your Wolfspeed investments and any communications you received from the company.  
  3. Evaluate Your Case: Learn whether your losses qualify you for inclusion in the class action lawsuit.  

Don't wait—secure your legal rights now.

iStock-1429168394

DiCello Levitt Fights to Protect Shareholder Rights  

At DiCello Levitt, we hold corporations accountable when they betray investor trust. With extensive experience in securities litigation, our legal team has the knowledge and resources to fight for your financial recovery. We understand the impact these losses can have on you and your family.  

Contact us today for a free, private case evaluation. Our attorneys will review your case, help you understand your legal options, and work tirelessly to seek the compensation you deserve. Let us advocate for your rights and ensure your voice is heard.  

Take the first step toward justice. Call us now or fill out our online form to get started.

All victims affected by Wolfspeed, Inc.®'s alleged deceptive practices and failure to meet basic compliance standards should receive justice and potential compensation, beginning with a free, private case review with our experienced legal team.

The Importance of Joining a Class Action

Class action lawsuits can provide an efficient mechanism to compensate injured victims, hold wrongdoers accountable, or affect how a company or an industry operates.  Class actions allow injured parties to come together and take on larger adversaries.  By leveraging the power of a group class members the class can match the resources of a corporate defendant and put the parties on equal footing.

If you have been adversely affected by corporate misconduct, you may join DiCello Levitt’s class action lawsuit and help hold the wrongdoers responsible for their alleged misconduct, potentially recover your financial losses, and contribute to enforcing higher ethical, governance, and compliance standards.  Your participation can make a difference.

To learn more about how to join the lawsuit and your potential eligibility, please contact DiCello Levitt.  DiCello Levitt is committed to representing the interests of all affected parties and pursuing justice in this significant case.

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Wolfspeed® Investors may have grounds to pursue legal action and financial recovery of damages.

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