Wolfspeed, Inc. (NYSE: WOLF) Securities Fraud Class Action

Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Wolfspeed, Inc. (“Wolfspeed”) (NYSE: WOLF) securities between August 16, 2023 and November 6, 2024, inclusive (the “Class Period”).

The Class Period begins on August 16, 2023, when Wolfspeed issued its fourth quarter fiscal year 2023 results. On the corresponding earnings call, Wolfspeed touted the purported potential of the company’s Mohawk Valley fabrication facility, and stated that “the main driver of future revenue growth for power devices will be the incremental revenue contribution from Mohawk Valley.” Likewise, Wolfspeed reiterated that “while we are still aligned on previous expectations that we will reach 20% utilization out of Mohawk Valley by the end of fiscal 2024, it is important to note that it will be the second half of the calendar year 2024 before we see $100 million of quarterly revenue from the fab that the 20% utilization would represent.”

The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Wolfspeed’s optimistic claims of potential growth of its Mohawk Valley fabrication facility and general demand for Wolfspeed’s 200mm wafers in the electronic vehicle market fell short of reality; (2) Wolfspeed had 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% utilization of the fabrication, let alone the promised $2 billion revenue purportedly achievable by the facility; and (3) as a result of the foregoing, Defendants’ statements about Wolfspeed’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 August 12, 2026, the Court granted Defendants’ Motion to Dismiss the Amended Complaint.

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.