The Gross Law Firm is urging shareholders who purchased shares of ON Semiconductor Corporation during the specified class period to explore their legal options and consider appointment as lead plaintiffs in an ongoing lawsuit. While appointment as lead plaintiff is not mandatory to participate in potential recovery, shareholders are encouraged to contact the firm to discuss their potential claims.
The lawsuit, which covers the period between May 1, 2023, and October 27, 2023, alleges that ON Semiconductor made materially false and/or misleading statements, as well as failed to disclose important information during this time. Specifically, the complaint asserts that the company misrepresented revenues derived from long-term supply agreements (LTSAs) worth billions of dollars, falsely claiming that these agreements were “committed” and “locked in.” Furthermore, it is alleged that the company could terminate these agreements at the request of customers and that LTSAs did not deliver the expected predictable and sustainable performance during tough macroeconomic conditions.
The defendants are also accused of lacking insight into customer demand and failing to accurately predict changes in demand, even when LTSAs were in effect. As a result, the complaint suggests that the positive statements made by ON Semiconductor regarding its business, operations, and prospects were misleading and lacked a reasonable basis.
Shareholders have until February 12, 2024, to participate in the class action and should not delay in registering their information. Once registered, shareholders will receive updates on the status of the case through a portfolio monitoring software. There is no cost or obligation to participate in the lawsuit.
The Gross Law Firm is a well-regarded class action law firm committed to protecting the rights of investors who have suffered losses due to fraudulent practices. The firm seeks to hold companies accountable for their actions and ensure they adhere to responsible business practices. Past performance does not guarantee future results.
For more information, shareholders can contact The Gross Law Firm via email at [email protected] or by phone at (646) 453-8903.
FAQ:
1. What is the purpose of The Gross Law Firm’s urging shareholders to explore their legal options?
The Gross Law Firm is urging shareholders who purchased shares of ON Semiconductor Corporation during the specified class period to explore their legal options and consider appointment as lead plaintiffs in an ongoing lawsuit.
2. Is appointment as lead plaintiff mandatory to participate in potential recovery?
No, appointment as lead plaintiff is not mandatory to participate in potential recovery.
3. How can shareholders contact The Gross Law Firm to discuss their potential claims?
Shareholders are encouraged to contact The Gross Law Firm via email at [email protected] or by phone at (646) 453-8903.
4. What is the period covered by the lawsuit?
The lawsuit covers the period between May 1, 2023, and October 27, 2023.
5. What are the allegations made against ON Semiconductor Corporation?
The lawsuit alleges that ON Semiconductor made materially false and/or misleading statements, as well as failed to disclose important information during the specified period. It specifically claims that the company misrepresented revenues derived from long-term supply agreements (LTSAs) worth billions of dollars.
6. What is the complaint regarding the LTSAs?
The complaint asserts that ON Semiconductor falsely claimed that the LTSAs were “committed” and “locked in” when in reality, the company could terminate these agreements at the request of customers. It is also alleged that the LTSAs did not deliver the expected predictable and sustainable performance during tough macroeconomic conditions.
7. What is the accusation against the defendants?
The defendants, which include ON Semiconductor Corporation, are accused of lacking insight into customer demand and failing to accurately predict changes in demand even when LTSAs were in effect. The complaint suggests that the positive statements made by the company regarding its business, operations, and prospects were misleading and lacked a reasonable basis.
8. What is the deadline for shareholders to participate in the class action?
Shareholders have until February 12, 2024, to participate in the class action and should not delay in registering their information.
9. Is there any cost or obligation to participate in the lawsuit?
No, there is no cost or obligation to participate in the lawsuit.
10. What is the goal of The Gross Law Firm?
The Gross Law Firm is a well-regarded class action law firm committed to protecting the rights of investors who have suffered losses due to fraudulent practices. The firm seeks to hold companies accountable for their actions and ensure they adhere to responsible business practices.
Definitions:
– Class period: The specific period of time during which shareholders can be part of a class action lawsuit.
– Lead plaintiff: A representative plaintiff in a class action lawsuit who is appointed to act on behalf of the class members.
– Long-term supply agreements (LTSAs): Agreements between businesses that establish a long-term commitment to supply goods or services.
– Macro-economic conditions: The overall state of the economy, including factors such as inflation, unemployment, and GDP growth.
– Portfolio monitoring software: Software that helps investors track and manage their investment portfolios.
Suggested Related Links:
– The Gross Law Firm
The source of the article is from the blog karacasanime.com.ve