Farooqui & Farooqui, LLP Investigate Claims on Behalf of Wolfspeed Investors By Investing.com

Farooqui & Farooqui, LLP Securities Litigation Partners James (Josh) Wilson Wolfspeed (NYSE: ) encourages investors with losses greater than $75,000 to contact him directly to discuss options.

If you have a loss of more than $75,000 Wolfspeed Between August 16, 2023 and November 6, 2024 And you want to discuss your legal rights, call Farooqui & Farooqui Partner Josh Wilson live as if 877-247-4292 Or 212-983-9330 (Ex. 1310).

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NEW YORK, NY–( NEWS FILE – Jan. 11, 2025 ) – Farooki & Farooki, LLP, a leading national securities law firm, filed a lawsuit against Wolfspeed, Inc. (“Wolfspeed” or the “Company”). He is investigating. (NYSE: WOLF ) and investors remember January 17, 2025 deadline To seek the role of lead plaintiff in a federal securities class action against the company.

Farooki & Farooki is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The organization Since its inception in 1995, it has returned hundreds of millions of dollars to investors. Check out www.faruqilaw.com.

The complaint alleges that the defendants provided the public with revenue projections based on Wolfspeed’s Mohawk Valley manufacturing plant meeting production and/or exceeding demand for 200mm wafer production.

In the year On November 6, 2024, Wolfspeed announced its financial results for the first quarter of fiscal year 2025 and disclosed below-expected guidance for the second quarter. While the defendants have repeatedly claimed that 20% of the Mohawk Valley manufacturing facility would generate $100 million in revenue, the defendants have now claimed 30% to 50% below that mark. The company reported the results and lowered its guidance for “demand… ramp(ing) more slowly than we originally expected,” as “EV customers will revise their launch timelines as the market works, though this transition period.”

Investors and analysts reacted immediately to Wolfspeed’s revelation. Wolfspeed’s common stock price dropped dramatically. In the year From a closing market price of $13.71 per share on November 6, 2024, Wolfspeed’s stock price fell to $8.33 per share on November 7, 2024, representing a one-day decrease of 39.24%.

The court-appointed lead plaintiff is the investor with the greatest financial interest in obtaining the relief sought by the class, who is sufficient and the class members who lead and control the litigation on behalf of the class members. Any member of the mandatory class may ask the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain as a residual class member. Your ability to participate in any recovery is not affected by the decision to serve as lead plaintiff or not.

Farooqui & Farooqui, LLP encourages anyone with information regarding Wolfspeed’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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Notice of attorney. The law firm responsible for this announcement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict similar results for any future case. We welcome the opportunity to discuss your case. All communications will be treated confidentially.

To view the source of this press release, please visit https://www.newsfilecorp.com/release/236732.