ON Semiconductor Corporation (NASDAQ: ON) Securities Fraud Class Action

Case Background:
This is a federal securities fraud  class action lawsuit on behalf of those who purchased or otherwise acquired ON Semiconductor Corporation (“OnSemi”) (NASDAQ: ON) common stock between May 1, 2023 and October 27, 2023, inclusive (the “Class Period”).

The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business and operations.  Specifically, Defendants misrepresented and/or failed to disclose that: (1) revenues from billions of dollars in reported long-term service agreements (“LTSAs”) were “committed” and “locked in,” and were effectively certain to be obtained by OnSemi when, in fact, OnSemi could and would abrogate the LTSAs at a customer’s request; (2) LTSAs provided “predictable” and “sustainable” performance to drive OnSemi’s growth, even in tough macroeconomic conditions, when, in fact, they would be modified or eliminated as conditions changed; (3) Defendants had “good visibility” into customer demand when, in fact, demand could be reduced on short notice, even where LTSAs were in effect; and (4) as a result of the foregoing, Defendants’ positive statements about OnSemi’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Current Status of Case:
On September 25, 2025, Defendants filed a Motion to Dismiss the Amended Complaint. The Motion has been fully briefed and is pending decision before the Court. This action is ongoing.

If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected]. If you would like additional information about the suit, please click on the link “Submit Your Information” above and fill out the form as promptly as possible.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.