STEM - DEADLINE ALERT: Levi & Korsinsky Reminds Shareholders of a Lead Plaintiff Deadline of July 11 2023 in Stem Lawsuit - STEM

NEW YORK, NY / ACCESSWIRE / June 30, 2023 / Levi & Korsinsky, LLP notifies investors in Stem, Inc. f/k/a Star Peak Energy Transition Corp. ("Stem" or the "Company") (NYSE:STEM) of a class action securities lawsuit.

The lawsuit on behalf of Stem investors has been commenced in the United States District Court for the Northern District of California. 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. Follow the link below to get more information and be contacted by a member of our team:

https://zlk.com/pslra-1/stem-lawsuit-loss-submission-form?prid=41590&wire=1

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.

Stem, Inc. f/k/a Star Peak Energy Transition Corp. NEWS - STEM NEWS

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed 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.

WHAT THIS MEANS TO SHAREHOLDERS: If you suffered a loss in Stem during the relevant timeframe, you have until July 11, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. Discuss your rights with our legal team without cost or obligation.

PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form https://zlk.com/pslra-1/stem-lawsuit-loss-submission-form?prid=41590&wire=1 or call 212-363-7500 to discuss the case.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 4th Floor Suite #427
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP