An investigation on behalf of current long term investors in Stem, Inc. (NYSE:STEM) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 09/20/2023 -- Certain directors of Stem, Inc are under investigation over potential breaches of fiduciary duties.
Investors who are current long term investors in Stem, Inc. (NYSE: STEM) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: STEM stocks follows a lawsuit filed against Stem, Inc. over alleged securities laws violations. The investigation on behalf of investors in NYSE: STEM stocks, concerns whether certain Stem, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that, the Offering Documents that were filed in connection with the Merger and that the Defendants between March 4, 2021 and February 16, 2023 made false and/or misleading statements and/or failed to disclose that, 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;, that the Company had overstated Legacy Stem's and its own post-Merger business and financial prospects, that Stem's software revenue did not make up 100% of the Company's services revenue, that Stem had overstated the benefits expected to flow from its AP partnership, and that as a result, the Offering Documents and Defendants' public statements between March 4, 2021 and February 16, 2023 were materially false and/or misleading and failed to state information required to be stated therein.
Those who purchased shares of Stem, Inc. (NYSE: STEM) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.