SAN DIEGO, June 17, 2024 (GLOBE NEWSWIRE) — The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in ON Semiconductor Corporation (NASDAQ: ON) shares. The lawsuit seeks to recover losses for certain NASDAQ: ON shares.
Investors, who purchased ON Semiconductor Corporation (NASDAQ: ON) shares and continue to hold any of those NASDAQ: ON shares, have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
On December 13, 2023, an investor in NASDAQ: ON shares filed a lawsuit against ON Semiconductor Corporation over alleged securities laws violations. The plaintiff alleges that the defendants misrepresented and/or failed to disclose that revenues from billions of dollars in reported LTSAs were “committed” and “locked in,” and were effectively certain to be obtained by ON Semiconductor Corporation when, in fact, ON Semiconductor Corporation could and would abrogate the LTSAs at a customer’s request, that LTSA’s provided “predictable” and “sustainable” performance to drive ON Semiconductor Corporation’s growth, even in tough macroeconomic conditions, when, in fact, they would be modified or eliminated as conditions changed, that Defendants had “good visibility” into customer demand when, in fact, demand could be reduced on short notice, even where LTSAs were in effect, and that as a result of the foregoing, Defendants’ positive statements about ON Semiconductor Corporation’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.
Those who purchased ON Semiconductor Corporation (NASDAQ: ON) shares and continue to hold any of those NASDAQ: ON shares, have also certain options and should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
