NEW YORK, May 23, 2023 (GLOBE NEWSWIRE) — Attention Stem, Inc. f/k/a Star Peak Energy Transition Corp. (“Stem”) 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.
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…
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