LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Stem, Inc. (“Stem” or “the Company”) (NYSE: STEM) for violations of the federal securities laws.
Investors who purchased the Company's securities pursuant and/or traceable to the merger (“Merger”) consummated on April 28, 2021 by and among the Company, STPK Merger Sub Corp. (“Merger Sub”), and Stem, Inc., a private Delaware corporation (“Legacy Stem”) and/or between March 4, 2021 and February 16, 2023, both dates inclusive (the "Class Period"), are encouraged to contact the firm before July 11, 2023.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Legacy Stem failed to maintain appropriate controls over financial reporting. The Company overstated Legacy Stem’s performance as well as the business prospects of the post-merger company. The Company overstated the benefits that would be produced by its AP partnership. Based on these facts, the Company’s public statements throughout the Merger period and the class period were false and materially misleading. When the market learned the truth about Stem, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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