Kessler Topaz Meltzer & Check, LLP Alerts Investors of Class Action Against Wolfspeed, Inc.

RADNOR, Pa., Dec. 28, 2024 (GLOBE NEWSWIRE) -- Kessler Topaz Meltzer & Check, LLP has announced that a securities class action lawsuit has been filed in the United States District Court for the Northern District of New York against Wolfspeed, Inc. (NYSE: WOLF). This lawsuit is on behalf of all individuals who purchased or otherwise acquired Wolfspeed securities between August 16, 2023, and November 6, 2024 (the "Class Period"). The deadline for potential lead plaintiffs is set for January 17, 2025.

Interested investors can reach out to attorney Jonathan Naji at (484) 270-1453 or via email at [email protected] for further information.

Allegations Against Wolfspeed

The lawsuit claims that incumbents at Wolfspeed made several misleading statements and neglected to disclose critical information throughout the Class Period. Specifically, the complaint alleges that Wolfspeed's claims regarding the growth potential of its Mohawk Valley fabrication facility and the demand for its 200mm wafers in the electronic vehicle market were overly optimistic and did not reflect reality. Additionally, the lawsuit contends that Wolfspeed exaggerates demand for its flagship product and placed excessive reliance on design wins, even as growth at the Mohawk Valley facility had already begun to decline.

Process for Becoming a Lead Plaintiff

Those who invested in Wolfspeed during the specified Class Period may seek to be appointed as a lead plaintiff representative of the class by the deadline of January 17, 2025. This may be achieved through Kessler Topaz Meltzer & Check, LLP or another legal counsel, or they can choose not to take any action and remain an absent class member. The lead plaintiff represents all class members in steering the litigation and is generally the investor or group of investors with the largest financial stake adequate to represent the class. They select legal counsel to represent the class and oversee the proceedings if approved by the court. Participation as a lead plaintiff does not impact an individual’s eligibility for any recovery in the lawsuit.

Kessler Topaz Meltzer & Check, LLP advises affected Wolfspeed investors to make contact for further information related to the lawsuit.

About Kessler Topaz Meltzer & Check, LLP

Kessler Topaz Meltzer & Check, LLP engages in the prosecution of class actions in both state and federal courts across the United States. The firm has established a strong reputation for its excellence and has successfully recovered billions of dollars for victims of corporate misconduct and fraud. Their efforts are focused on safeguarding the interests of investors, consumers, employees, and others against fraud, abuse, and negligence in business practices. This specific lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more details, feel free to visit their website.

Contact Information

Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
[email protected]

lawsuit, investors, Wolfspeed