An investigation for investors in Wolfspeed, Inc. (NYSE: WOLF) shares over potential securities laws violations by Wolfspeed, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 05/09/2023 -- Wolfspeed, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Wolfspeed, Inc. (NYSE: WOLF), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Wolfspeed, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Wolfspeed, Inc. operates as a powerhouse semiconductor company focuses on silicon carbide and gallium nitride (GaN) technologies Europe, China, the United States, Japan, South Korea, and internationally. On April 26, 2023, Wolfspeed, Inc. announced its results for the third quarter of fiscal year 2023 and provided guidance for its fourth quarter of fiscal 2023 and for fiscal 2024. The Company also stated 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]." Following this announcement, the price of the Company's stock dropped. Shares of Wolfspeed, Inc. (NYSE: WOLF) declined from $124.08 million on September 19, 2022, to as low as $44.25 per share on April 27, 2023.
Those who purchased shares of Wolfspeed, Inc. (NYSE: WOLF) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.