NEW
YORK, Feb. 9, 2024 /PRNewswire/ -- The Gross Law
Firm issues the following notice to shareholders of ON
Semiconductor Corporation.
Shareholders who purchased shares of ON during the class period
listed are encouraged to contact the firm regarding possible lead
plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/on-semiconductor-corporation-loss-submission-form/?id=66427&from=4
CLASS PERIOD: 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.
ALLEGATIONS: The complaint alleges that
during the class period, Defendants issued 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
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/on-semiconductor-corporation-loss-submission-form/?id=66427&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of ON during the timeframe listed
above, you will be enrolled in a portfolio monitoring software to
provide you with status updates throughout the lifecycle of the
case. The deadline to seek to be a lead plaintiff is February 12, 2024. There is no cost or obligation
to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. The
firm seeks recovery on behalf of investors who incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm