SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of ON Semiconductor Corporation of a Class Action Lawsuit and a Lead Plaintiff Deadline of February 12, 2024 - (NASDAQ: ON)

NEW YORK, Jan. 5, 2024

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=62424&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.