ON Semiconductor Corporation Class Action Lawsuit - ON

The filed complaint alleges that ON Semiconductor Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) contrary to representations made, revenues from billions of dollars in reported long-term supply agreements (“LTSAs”) were not “committed”, “locked in,” or effectively certain to be obtained by the Company; (2) the Company could and would abrogate the LTSAs at a customer’s request; (3) in tough macroeconomic conditions, LTSAs did not provide “predictable” and “sustainable” performance to drive the Company’s growth; (4) LTSAs would be modified or eliminated as conditions changed; (5) defendants did not have “good visibility” into customer demand, and in fact, demand could be reduced on short notice, even where LTSAs were in effect; and (6) 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.

In order to be eligible to join the ON class action lawsuit, you must have incurred a loss on shares of onsemi purchased during the class period listed above.

If you suffered a loss in onsemi during the relevant time frame, you have until February 12, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.