WOLF Investor Alert: A Securities Fraud Class Action Lawsuit Has Been Filed Against Wolfspeed, Inc. – Contact Kessler Topaz Meltzer & Check, LLP

Lawsuit Overview - A securities class action lawsuit has been filed against Wolfspeed Inc in the United States District Court for the Northern District of New York on behalf of investors who purchased or acquired Wolfspeed securities between August 16 2023 and November 6 2024 [1] - The lead plaintiff deadline is January 17 2025 [1] Allegations Against Wolfspeed - Defendants allegedly made false and/or misleading statements and/or failed to disclose that Wolfspeed's optimistic claims of potential growth of its Mohawk Valley fabrication facility and general demand for its 200mm wafers in the electronic vehicle market fell short of reality [3] - Wolfspeed allegedly overstated demand for its key product and placed undue reliance on purported design wins while the Mohawk Valley facility's growth had begun to taper before recognizing the $100 million revenue per quarter allegedly achievable with only 20$2 billion revenue purportedly achievable by the facility [3] Lead Plaintiff Process - Wolfspeed investors may seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check LLP or other counsel no later than January 17 2025 [4] - The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors [4] - The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys if approved by the court are lead or class counsel [4] About Kessler Topaz Meltzer & Check LLP - Kessler Topaz Meltzer & Check LLP prosecutes class actions in state and federal courts throughout the country and around the world [6] - The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct [6]