, /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Wolfspeed, Inc. (“Wolfspeed” or the “Company”) (NYSE: WOLF). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Wolfspeed and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On April 26, 2023, Wolfspeed issued a press release announcing its results for the third quarter of fiscal year 2023 and providing guidance for its fourth quarter of fiscal 2023 and for fiscal 2024. Among other items, Wolfspeed issued weaker-than-expected guidance, stating that it was “adjusting our fiscal 2024 revenue forecast to reflect the projected growth of our materials production as it relates to supplying [Wolfspeed’s] Mohawk Valley [facility].”
On this news, Wolfspeed’s stock price fell $11.40 per share, or 19.86%, to close at $46.00 per share on April 27, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
