LOS ANGELES, Jan. 10, 2025 /PRNewswire/ -- Glancy Prongay & Murray LLP announces that investors with losses have opportunity to lead the securities fraud class action lawsuit against Wolfspeed, Inc. ("Wolfspeed" or the "Company") (NYSE: WOLF).

IF YOU SUFFERED A LOSS ON YOUR WOLFSPEED INVESTMENTS, CLICK HERE BEFORE JANUARY 17, 2025 (LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT

What Is The Lawsuit About?

The complaint filed alleges that, between August 16, 2023 and November 6, 2024, Defendants failed to disclose to investors that (1) the Company had overstated the demand for its key product and placed undue reliance on purported design wins; (2) the facility's growth had begun to taper before even recognizing the $100 million revenue per quarter allegedly achievable with only 20% utilization of the fab, let alone the promised $2 billion revenue purportedly achievable by the facility; and (3) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Contact Us To Participate or Learn More:

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us.

Charles Linehan, Esq.,

Glancy Prongay & Murray LLP,

1925 Century Park East, Suite 2100,

Los Angeles California 90067

Email: shareholders@glancylaw.com

Telephone: 310-201-9150 (Toll-Free: 888-773-9224)

Visit our website at www.glancylaw.com.

Follow us for updates on LinkedIn, Twitter, or Facebook.

If you inquire by email, please include your mailing address, telephone number and number of shares purchased. 

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contact Us:

Glancy Prongay & Murray LLP, 

1925 Century Park East, Suite 2100,

Los Angeles, CA 90067

Charles Linehan

Email: shareholders@glancylaw.com

Telephone: 310-201-9150

Toll-Free: 888-773-9224

Visit our website at: www.glancylaw.com.

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SOURCE Glancy Prongay & Murray LLP