RADNOR, Pa., Nov. 16, 2024 /PRNewswire/ — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of Wolfspeed, Inc. (NYSE: WOLF) (“Wolfspeed”).
On November 6, 2024, during after-market hours, Reuters published an article entitled “Chipmaker Wolfspeed projects revenue below estimates on weak auto demand, shares sink.” Specifically, the article stated that Wolfspeed “forecast quarterly revenue below estimates on Wednesday and said it would book $174 million in restructuring charges for the planned closure of a facility, as the chipmaker deals with sluggish demand from automotive customers. [. . .] The company dropped plans last month to build a factory in Ensdorf, Germany, citing the slower…
