Stem stpk stock9/18/2023 ![]() The coverage limits provide protection for securities and cash up to an aggregate of $150 million, subject to maximum limits of $37.5 million for any one customer’s securities and $900,000 for any one customer’s cash. Our clearing firm Apex Clearing Corp has purchased an additional insurance policy. An explanatory brochure is available upon request or at Our clearing firm, Apex Clearing Corp., has purchased an additional insurance policy. Webull Financial LLC is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Webull Financial LLC is a member of the Financial Industry Regulatory Authority ( FINRA), Securities Investor Protection Corporation ( SIPC), The New York Stock Exchange ( NYSE), NASDAQ and Cboe EDGX Exchange, Inc ( CBOE EDGX). Shareholders pay no fees or expenses.Securities trading is offered to self-directed customers by Webull Financial LLC, a broker dealer registered with the Securities and Exchange Commission (SEC). If you choose to take no action, you can remain an absent class member.Īll representation is on a contingency fee basis. You do not have to participate in the case to be eligible for a recovery. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Shareholders who want to act as lead plaintiff for the class must file their papers by July 11, 2023. What Now: Similarly situated shareholders may be eligible to participate in the class action against Stem, Inc. ![]() On this news, Stem’s stock price fell $1.44 per share, or 14.78%, to close at $8.30 per share on February 17, 2023-a 69.32% decline from the Company’s first post-merger closing stock price of $27.05 per share on April 29, 2021. Then, on February 16, 2023, Stem reported disappointing 4Q 2022 results and 2023 guidance. On January 11, 2023, Blue Orca Capital issued a report alleging various undisclosed issues with Stem’s business and financial prospects, including, among other things, that the Company had overstated its software revenues by falsely claiming that 100% of its services revenue line was attributable to software revenues. and internationally.Īccording to the complaint, the Offering Documents and defendants made 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 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 make up 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. Stem purports to operate as a digitally connected and intelligent energy storage network provider in the U.S. ![]() (NYSE: STEM, STEM.WT, STPK.U) securities pursuant to the Offering Documents in connection with the Apmerger between Legacy Stem and Star Peak Energy Transition Corp. (STEM) Misled Investors in its Offering Documents in Connection with its MergerĪ shareholder filed a class action on behalf of purchasers of Stem, Inc. ![]()
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |