Semiconductor Corporation: Johnson Fistel, LLP Investigates Claims on Behalf of Investors

Johnson Fistel, LLP is investigating potential claims on behalf of ON Semiconductor Corporation against certain of its officers and directors.

If you have continuously owned ON Semiconductor Corporation, shares since before May 1, 2023, submit your information below:

Previously a class action lawsuit was filed against the company. The Complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business and operations. Specifically, Defendants misrepresented and/or failed to disclose that: (1) revenues from billions of dollars in reported LTSAs were “committed” and “locked in,” and were effectively certain to be obtained by onsemi when, in fact, onsemi could and would abrogate the LTSAs at a customer’s request; (2) LTSA’s provided “predictable” and “sustainable” performance to drive onsemi’s growth, even in tough macroeconomic conditions, when, in fact, they would be modified or eliminated as conditions changed; and (3) Defendants had “good visibility” into customer demand when, in fact, demand could be reduced on short notice, even where LTSAs were in effect. 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.