Wolfspeed Inc. Common Stock (NYSE: WOLF)
The Complaint alleges that Defendants provided the public with revenue projections that depended on Wolfspeed’s Mohawk Valley fabrication facility ramping its production to meet and/or exceed demand for its 200mm wafer product. The Complaint further alleges that Defendants provided these overwhelmingly positive statements to investors while, at the same time, misrepresenting and/or concealing material adverse facts concerning the true state of Wolfspeed’s growth potential and, in particular, the operational status and profitability of the Mohawk Valley fabrication facility.