Wolfspeed, Inc. Investigated by Shareholder Rights Advocates - Investors Should Contact Levi & Korsinsky Regarding Potential Securities Law Violations - WOLF
NEW YORK, NY / ACCESSWIRE / October 9, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Wolfspeed, Inc. ("Wolfspeed") (NYSE:WOLF) concerning possible violations of federal securities laws.
On August 16, 2023, Wolfspeed issued a press release reporting its financial results for the fourth quarter and full fiscal year 2023. Providing a weaker-than-expected business outlook for 2024, Wolfspeed said that it expects sales to fall within a range of $220 million to $240 million and that it expects to lose between $0.60 and $0.75 per share, significantly more than analyst expectations of a loss of $0.20 per share. Following this news, Wolfspeed 's stock price dropped over 17% on August 17, 2023.
Then, on June 20, 2024, Reuters reported that Wolfspeed had "delayed plans to build a $3 billion plant in Germany" and "won 't start construction . . . until mid-2025 at the earliest, two years later than its original target."
Following this news, Wolfspeed 's stock price dropped over 8% on June 20, 2024. To obtain additional information, go to:
https://zlk.com/pslra-1/wolfspeed-lawsuit-submission-form?prid=107556&wire=1
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212)363-7500.
WHY LEVI & KORSINSKY:Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The 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 ' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212)363-7500
Fax: (212)363-7171
https://zlk.com/
SOURCE:Levi & Korsinsky, LLP
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