Robbins Geller Announces Lead Plaintiff Opportunity in Wolfspeed Securities Class Action Lawsuit.
Robbins Geller Rudman & Dowd LLP is inviting individuals who purchased or acquired securities of Wolfspeed, Inc. (NYSE: WOLF) between August 16, 2023, and November 6, 2024, to apply for the position of lead plaintiff in a class action lawsuit against the company. The deadline to submit applications for the lead plaintiff role is Friday, January 17, 2025.
The lawsuit, titled Zagami v. Wolfspeed, Inc., alleges that Wolfspeed and certain executives violated the Securities Exchange Act of 1934. The case claims that Wolfspeed made false and misleading statements regarding its Mohawk Valley fabrication facility, overstating growth projections and exaggerating demand for its products, particularly in the electric vehicle market.
Wolfspeed had projected significant revenue growth, including claims of $100 million in quarterly revenue with only 20% facility utilization. It was revealed that the actual results fell short, with the Mohawk Valley facility underperforming and contributing to a substantial decline in expected revenues.
Individuals who believe they have suffered significant financial losses during the class period and are interested in serving as the lead plaintiff in this case can submit their information through the link provided - Robbins Geller Wolfspeed Class Action.
For additional questions, they can contact Robbins Geller attorneys J.C. Sanchez or Jennifer N. Caringal at 800/449-4900 or via email at info@rgrdlaw.com.
Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities class action litigation, shareholder derivative actions, and consumer protection cases. Established in 1992, the firm has earned a reputation for its expertise in handling complex legal matters on behalf of institutional investors, individuals, and consumer groups. With a team of skilled attorneys, Robbins Geller is known for its dedication to securing justice and maximizing recoveries for clients, often representing those who have suffered significant financial losses. The firm has a history of success in landmark cases, and its attorneys are recognized as leaders in the field of securities litigation. Robbins Geller operates nationwide and has offices in major U.S. cities.
