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The filed complaint alleges that Wolfspeed, Inc. made materially false and/or misleading statements and/or failed to disclose that: On November 7, 2024, WOLF conducted an earnings call corresponding to its third quarter results revealing a slow-down in growth of its 200mm facility at Mohawk Valley, signaling a significant demand headwind as the facility purportedly continues to ramp production. WOLF simultaneously announced the implementation of a 20% workforce reduction focused on administrative and other non-factory employees. Following this news, WOLF’s stock price fell by $5.38 per share to close at $8.33 per share.
In order to be eligible to join the WOLF class action lawsuit, you must have incurred a loss on shares of Wolfspeed, Inc. purchased during the class period listed above.
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