NEW
YORK, July 6, 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=41674&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=41674&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
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SOURCE The Gross Law Firm