NEW YORK, June 19, 2023 /PRNewswire/ -- Attention Stem, Inc. f/k/a Star Peak Energy Transition Corp. ("Stem") (NYSE: STEM) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired Stem securities: (a) pursuant and/or traceable to certain documents issued in connection with the merger consummated on April 28, 2021, by and among the Company, STPK Merger Sub Corp., and Stem, Inc., a private Delaware corporation; and/or (b) between March 4, 2021, and February 16, 2023, both dates inclusive.
If you suffered a loss on your investment in Stem, contact us about potential recovery by using the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/stem-inc-class-action-submission-form?prid=40943&wire=4
ABOUT THE ACTION: The class action against Stem includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (i) Legacy Stem suffered from material weaknesses in internal control over financial reporting related to accounting for the deferred cost of goods sold and inventory, certain revenue recognition calculations, and internal-use capitalized software calculations; (ii) the Company had overstated Legacy Stem's and its own post-Merger business and financial prospects; (iii) Stem's software revenue did not makeup 100% of the Company's services revenue; (iv) Stem had overstated the benefits expected to flow from its AP partnership; and (v) as a result, the offering documents and defendants public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
DEADLINE: July 11, 2023
Aggrieved Stem investors only have until July 11, 2023 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
View original content:https://www.prnewswire.com/news-releases/class-action-alert-the-law-offices-of-vincent-wong-remind-stem-investors-of-a-lead-plaintiff-deadline-of-july-11-2023-301853397.html
SOURCE The Law Offices of Vincent Wong
