According to the lawsuit, defendants made materially false and misleading statements and failed to disclose material adverse facts about onsemi’s business and operations. Specifically, defendants misrepresented that:

• revenues from billions of dollars in reported long-term supply agreements (“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;
• LTSAs 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
• defendants had “good visibility” into customer demand when, in fact, demand could be reduced on short notice, even where LTSAs were in effect.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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