Bronstein, Gewirtz & Grossman, LLC encourages investors to seek compensation for alleged misconduct

NEW YORK, NY / ACCESSWIRE / May 12, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Wolfspeed, Inc. (“Wolfspeed” or “the Company”) (NYSE: WOLF). Investors who have purchased Wolfspeed securities are encouraged to obtain additional information and assist in the investigation by visiting the Company’s website: bgandg.com/WOLF.

Examination details:

On August 16, 2023, Wolfspeed issued a press release detailing its fourth quarter and full fiscal year 2023 financial results. Wolfspeed announced a weaker-than-expected business outlook for 2024 and expected revenue to decline in the range of $220 to $240 million and expects a loss of between $0.60 and $0.75 per share, well above analyst expectations of a loss of $0.20 per share. On this news, Wolfspeed’s stock price fell $9.07 per share, or 17.06%, to close at $44.10 per share on August 17, 2023.

Then, on May 1, 2024, Wolfspeed issued a press release announcing its first quarter 2024 financial results. Wolfspeed reported, among other things, sales of $200.7 million, missing analysts’ estimates of $201.09 million. On this news, Wolfspeed’s stock price fell $2.55 per share, or 9.77%, to close at $23.56 per share on May 2, 2024.

What’s next?

If you are aware of any facts relating to this investigation or the Wolfspeed securities purchased, you can assist in this investigation by visiting the Company’s website: bgandg.com/WOLF. You may also contact Peretz Bronstein or his account representative Nathan Miller of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.

There are no costs for you

We represent investors in class actions on a contingency fee basis. This means that we will only ask the court to reimburse us for our expenses and attorneys’ fees, usually a percentage of the total recovery, if we are successful.

Why Bronstein, Gewirtz & Grossman:

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm representing investors in securities fraud class actions and shareholder derivative litigation. Our company has recovered hundreds of millions of dollars for investors nationwide.

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Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller,
332-239-2660 | (email protected)

SOURCE: Bronstein, Gewirtz & Grossman, LLC