{"id":798994,"date":"2025-01-08T12:26:30","date_gmt":"2025-01-08T17:26:30","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/january-17-2025-deadline-contact-levi-korsinsky-to-join-class-action-suit-against-wolf\/"},"modified":"2025-01-08T12:26:30","modified_gmt":"2025-01-08T17:26:30","slug":"january-17-2025-deadline-contact-levi-korsinsky-to-join-class-action-suit-against-wolf","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/january-17-2025-deadline-contact-levi-korsinsky-to-join-class-action-suit-against-wolf\/","title":{"rendered":"January 17, 2025 Deadline: Contact Levi & Korsinsky to Join Class Action Suit Against WOLF"},"content":{"rendered":"
\n

NEW YORK, Jan. 08, 2025 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP notifies investors in Wolfspeed, Inc.<\/strong> (“Wolfspeed” or the “Company”) (NYSE: WOLF) of a class action securities lawsuit.<\/p>\n

\n CLASS DEFINITION: <\/strong>The lawsuit seeks to recover losses on behalf of Wolfspeed investors who were adversely affected by alleged securities fraud between August 16, 2023 and November 6, 2024. Follow the link below to get more information and be contacted by a member of our team:<\/p>\n

\n https:\/\/zlk.com\/pslra-1\/wolfspeed-lawsuit-submission-form?prid=121189&wire=3<\/a>\n <\/p>\n

\n WOLF<\/strong> investors may also contact Joseph E. Levi, Esq. via email at\u00a0jlevi@levikorsinsky.com<\/a>\u00a0or by telephone at (212) 363-7500.<\/p>\n

\n CASE DETAILS: <\/strong>According to the complaint, defendants provided the public with revenue projections that depended on Wolfspeed\u2019s Mohawk Valley fabrication facility ramping its production to meet and\/or exceed demand for its 200mm wafer product. On November 6, 2024, Wolfspeed announced its financial results for the first quarter of fiscal year 2025 and unveiled guidance for the second quarter well below expectations. While defendants had repeatedly claimed that 20% utilization of the Mohawk Valley fabrication facility would result in $100 million revenue out of the facility, defendants now guided to a range 30% to 50% below that mark. The Company attributed its results and lowered guidance to \u201cdemand \u2026 ramp[ing] more slowly than we originally anticipated\u201d as \u201cEV customers revise their launch time lines as the market works though this transition period.\u201d Investors and analysts reacted immediately to Wolfspeed\u2019s revelation. The price of Wolfspeed\u2019s common stock declined dramatically. From a closing market price of $13.71 per share on November 6, 2024, Wolfspeed\u2019s stock price fell to $8.33 per share on November 7, 2024, a decline of about 39.24% in the span of just a single day.<\/p>\n

\n WHAT’S NEXT? <\/strong>If you suffered a loss in Wolfspeed during the relevant time frame, you have until January 17, 2025<\/strong>\u00a0to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.<\/p>\n

\n NO COST TO YOU: <\/strong>If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.<\/strong><\/p>\n

\n WHY LEVI & KORSINSKY: <\/strong>Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services\u2019 Top 50 Report as one of the top securities litigation firms in the United States.<\/p>\n

\n CONTACT:<\/strong>
\n
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com<\/a>\u00a0
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com<\/a>\u00a0<\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Jan. 08, 2025 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP notifies investors in Wolfspeed, Inc. (“Wolfspeed” or the “Company”) (NYSE: WOLF) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Wolfspeed investors who were adversely affected by alleged securities fraud between August 16, 2023 and November 6, 2024. Follow the link below to get more information and be contacted by a member of our team: https:\/\/zlk.com\/pslra-1\/wolfspeed-lawsuit-submission-form?prid=121189&wire=3 WOLF investors may also contact Joseph E. Levi, Esq. via email at\u00a0jlevi@levikorsinsky.com\u00a0or by telephone at (212) 363-7500. CASE DETAILS: According to the complaint, defendants provided the public with revenue projections that depended on Wolfspeed\u2019s Mohawk Valley fabrication facility ramping its production to meet and\/or … <\/p>\n

Continue reading “January 17, 2025 Deadline: Contact Levi & Korsinsky to Join Class Action Suit Against WOLF”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-798994","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nJanuary 17, 2025 Deadline: Contact Levi & Korsinsky to Join Class Action Suit Against WOLF - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/january-17-2025-deadline-contact-levi-korsinsky-to-join-class-action-suit-against-wolf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"January 17, 2025 Deadline: Contact Levi & Korsinsky to Join Class Action Suit Against WOLF - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Jan. 08, 2025 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP notifies investors in Wolfspeed, Inc. (“Wolfspeed” or the “Company”) (NYSE: WOLF) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Wolfspeed investors who were adversely affected by alleged securities fraud between August 16, 2023 and November 6, 2024. Follow the link below to get more information and be contacted by a member of our team: https:\/\/zlk.com\/pslra-1\/wolfspeed-lawsuit-submission-form?prid=121189&wire=3 WOLF investors may also contact Joseph E. Levi, Esq. via email at\u00a0jlevi@levikorsinsky.com\u00a0or by telephone at (212) 363-7500. 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