Charles & Colvard, Ltd. Receives Interim Award in Wolfspeed Arbitration

RESEARCH TRIANGLE PARK, N.C., Dec. 11, 2024 /PRNewswire/ -- Charles & Colvard, Ltd. ("Charles & Colvard" or the "Company") (Nasdaq: CTHR) today announced that on December 5, 2024, it received an interim award in its confidential arbitration with Wolfspeed, Inc.  Importantly, the award rejected Wolfspeed's claims to expectation damages of approximately $22.8 million, limiting the Company's damages to just $3.3 million representing approximately $1.3 million for inventory previously purchased and approximately $2.0 million of consigned inventory in the Company's possession, that will now be recorded on the Company's balance sheet as of June 30, 2024 - along with interest, arbitration and limited attorney's fees as described below.

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