NEW YORK, June 21, 2023 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Stem, Inc. f/k/a Star Peak Energy Transition Corp..
Shareholders who purchased shares of STEM 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/stem-inc-f-k-a-star-peak-energy-transition-corp-loss-submission-form/?id=41079&from=4
CLASS PERIOD: 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.
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued 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 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/stem-inc-f-k-a-star-peak-energy-transition-corp-loss-submission-form/?id=41079&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of STEM during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is July 11, 2023. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
View original content:https://www.prnewswire.com/news-releases/shareholder-alert-the-gross-law-firm-notifies-shareholders-of-stem-inc-fka-star-peak-energy-transition-corp-of-a-class-action-lawsuit-and-a-lead-plaintiff-deadline-of-july-11-2023--nyse-stem-301856383.html
SOURCE The Gross Law Firm
