Recent Security Class Actions

According to the Complaint, ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide.

The Complaint alleges that throughout the Class Period, Defendants misrepresented to investors: (1) the demand for the Company's silicon carbide ("SiC") and other products, and (2) the sustainability of the Company's revenue growth, by overstating the impact of the Company's long-term supply agreements ("LTSAs") on the achievability of its revenue streams. The Complaint further alleges that investors were significantly harmed as a result of Defendants' false and misleading statements and material omissions. During the Class Period, the Company's market capitalization value reached a high of $46.6 billion on August 1, 2023, before falling to $28.2 billion on October 30, 2023.