STEM Requests to Dismiss Class Action Filed by Investors

Court: N.D. California

Case: 23-CV-02329

STEM has requested the court to dismiss the lawsuit filed by investors. The court will determine whether the case proceeds.

What is this lawsuit about?

On February 16, 2023, Stem reported its 4Q 2022 results and 2023 guidance. Among other things, the Company reported 4Q revenue of $156M, versus consensus estimates of $166M, and issued disappointing FY 2023 revenue guidance of $550M to $650M, which was mostly below consensus estimates of $647M.

Following this, STEM dropped over 14.78%.

Then, on May 12, 2023, shareholders filed a claim against STEM.

What can you do to recover your losses now?

We’re keeping track of all updates and will notify STEM investors about potential recovery.

More than 600 companies are currently facing securities class action lawsuits, and over 100 are already paying settlements. Connect your brokerage account to automatically check which ones you may have missed.