SHAREHOLDER ALERT: The Law Offices of Vincent Wong Remind onsemi Investors of a Lead Plaintiff Deadline of February 12, 2024
NEW YORK, Feb. 8, 2024 /PRNewswire/ -- Attention ON Semiconductor Corporation ("onsemi") (NASDAQ: ON) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of all persons or entities that purchased or otherwise acquired shares of Onsemi common stock between May 1, 2023, and October 27, 2023, inclusive.
If you suffered a loss on your investment in onsemi, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against onsemi includes allegations that the Company 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.
DEADLINE: February 12, 2024
Aggrieved onsemi investors only have until February 12, 2024 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: [email protected]
SOURCE The Law Offices of Vincent Wong
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