LOS ANGELES, Jan. 16, 2025 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with losses related to Wolfspeed, Inc. ("Wolfspeed" or the "Company") (NYSE: WOLF) have opportunity to lead the securities fraud class action lawsuit.

IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN WOLFSPEED, INC. (WOLF), CLICK HERE BEFORE JANUARY 17, 2025 (THE LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE ONGOING 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.

The Law Offices of Frank R. Cruz, 

Email us at: info@frankcruzlaw.com

Call us at: 310-914-5007

Visit our website at: www.frankcruzlaw.com

Follow us for updates on Twitter: twitter.com/FRC_LAW.

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: 

The Law Offices of Frank R. Cruz, Los Angeles

Frank R. Cruz,

Telephone: 310-914-5007

Email: fcruz@frankcruzlaw.com

Visit our website at: www.frankcruzlaw.com

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SOURCE The Law Offices of Frank R. Cruz, Los Angeles