If you wish to review a copy of the Complaint, you can visit the firm's site: or you may contact Peretz Bronstein, Esq. When the true details entered the market, the lawsuit claims that investors suffered damages.Ī class action lawsuit has already been filed. Specifically, the Complaint alleges that the offering documents and defendants made false and/or misleading statements and/or failed to disclose that: (1) Legacy Stem suffered from material weaknesses in internal control over financial reporting related to accounting for deferred cost of goods sold and inventory, certain revenue recognition calculations, and internal-use capitalized software calculations (2) the Company had overstated Legacy Stem's and its own post-Merger business and financial prospects (3) Stem's software revenue did not make up 100% of the Company's services revenue (4) Stem had overstated the benefits expected to flow from its AP partnership and (5) 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. The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Such investors are encouraged to join this case by visiting the firm's site: Case Details: ("Merger Sub"), and Stem, Inc., ("Legacy Stem") and/or (ii) between Maand February 16, 2023, both dates inclusive (the "Class Period"). This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased, or otherwise acquired Stem securities: (i) pursuant and/or traceable to the offering documents issued in connection with the merger ("Merger") consummated on Apby and among the Company, STPK Merger Sup Corp.
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