STMicroelectronics Class Action Lawsuit: The Paramount Authenticity Investor Tract

INTRODUCTION TO THE STMICROELECTRONICS CLASS ACTION LAWSUIT

Give STMicroelectronics stock loss lawyer Timothy L. Miles a call about the STMicroelectronics class action lawsuit

​The STMicroelectronics class action lawsuit seeks to represent purchasers or acquirers of STMicroelectronics N.V. (NYSE: STM) publicly traded securities between January 25, 2024, and July 24, 2024, inclusive (the “Class Period”). Captioned Wang v. STMicroelectronics N.V., №24-cv-06370 (S.D.N.Y.), the STMicroelectronics class action lawsuit charges STMicroelectronics and certain of STMicroelectronics’ top executives with violations of the Securities Exchange Act of 1934. A subsequently filed case is captioned Malm v. STMicroelectronics N.V., №24-cv-06384 (S.D.N.Y.).
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If you have suffered losses in STMicroelectronics stock and are interested in becoming the lead plaintiff in the STMicroelectronics class action lawsuit or have any inquiries regarding your rights as a shareholder, please reach out to STMicroelectronics Stock Loss Lawyer Timothy L. Miles at no cost. You can contact him by calling 855/846–6529, sending an e-mail to [email protected], or filling out a contact form. ​Lead plaintiff motions for the STMicroelectronics class action lawsuit must be filed with the court no later than October 22, 2024. ​

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ALLEGATIONS IN THE STMICROELECTRONICS CLASS ACTION LAWSUIT

STMicroelectronics is a ​global semiconductor company that designs, develops, manufactures, and sells semiconductor products and solutions. The allegations in the STMicroelectronics class action lawsuit can be summarized as follows:
Class Action Lawsuit Allegations:

• Defendants made false and/or misleading statements throughout the Class Period
• Failed to disclose material adverse facts about STMicroelectronics’ true forecasting ability
• Company lacked appropriate visibility to generate accurate guidance
• STMicroelectronics failed to properly analyze available visibility
• The company was ill-equipped to handle ongoing challenges in end-market industries as projected

Q1 2024 Financial Disclosures (April 25, 2024):

• Announced negatively revised full-year 2024 revenue and margin projections
• Cited “lower revenues in Automotive and Industrial” sectors
• Revealed an 18.4% year-over-year decline in Q1 revenue, totaling $3.47 billion
• Reported decreased net sales:
• 11.5% decline to original equipment manufacturers
• 30.8% decline through distribution channels

Stock Impact:

• Following Q1 2024 disclosures, STMicroelectronics stock price allegedly fell significantly

Q2 2024 Financial Results (July 25, 2024):

• Further reduced revenue guidance
• Stated: “During the quarter, contrary to our prior expectations, customer orders for Industrial did not improve and Automotive demand declined”
• Revised full-year 2024 revenue projection to $13.2 billion — $13.7 billion range
• Forecasted gross margin of about 40%

Severe Stock Price Reaction:

• After Q2 2024 results announcement, STMicroelectronics stock reportedly plummeted by more than 15%

THE LEAD PLAINTIFF DEADLINE IN THE STMICROELECTRONICS CLASS ACTION LAWSUIT

​​Lead plaintiff motions for the STMicroelectronics class action lawsuit must be filed with the court no later than October 22, 2024.​
When a securities class action is filed such as the STMicroelectronics class action lawsuit:

1. The person who files the first complaint is required to publish a notice announcing the filing.
2. Anyone who wants to be lead plaintiff on behalf of the class must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published.

THE LEAD PLAINTIFF PROCESS IN THE STMICROELECTRONICS CLASS ACTION LAWSUIT

​​The Private Securities Litigation Reform Act of 1995 (PSLRA) permits any investor who purchased and suffered losses in STMicroelectronics​​ stock to seek appointment as lead plaintiff in the STMicroelectronics class action lawsuit.

• A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.
• A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit.
• The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit.
• An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.

THE BENEFITS OF SERVING AS A LEAD PLAINTIFF IN THE STMICROELECTRONICS CLASS ACTION LAWSUIT

1. Negotiating more competitive attorney fees and reducing litigation costs.
2. Managing the litigation by overseeing the progress of the case and reviewing important filings.
3. Participating in mediation and settlement discussions.
4. Having a voice in decision-making processes regarding the settlement.
5. No financial risk, as lead counsel covers all costs and expenses and are paid only if they secure a settlement or judgment recovery for the class
6. Potentially enjoying long-term benefits from governance reform resulting from the litigation.

THE RESPONSIBILITIES THE LEAD PLAINTIFF WILL HAVE IN THE STMICROELECTRONICS CLASS ACTION LAWSUIT

1. Negotiating more competitive attorney fees and reducing litigation costs.
2. Managing the litigation by overseeing the progress of the case and reviewing important filings.
3. Participating in mediation and settlement discussions.
4. Having a voice in decision-making processes regarding the settlement.
5. No financial risk, as lead counsel covers all costs and expenses and are paid only if they secure a settlement or judgment recovery for the class
6. Potentially enjoying long-term benefits from governance reform resulting from the litigation.

ELIGIBILITY CRITERIA FOR LEAD PLAINTIFF APPOINTMENT

​To be eligible for appointment as the lead plaintiff in the STMicroelectronics class action lawsuit, an investor must meet the following criteria:

1. Securities Acquisition: The investor must have purchased or acquired STMicroelectronics common stock during the Class Period, spanning June 23, 2022, and March 6, 2024.
2. Financial Losses: The investor must have suffered financial losses as a direct result of the alleged securities fraud perpetrated by STMicroelectronics and its executives.
3. Typicality and Adequacy: The investor’s legal claims must be typical of those asserted on behalf of the class, and they must demonstrate their ability to adequately represent the interests of the entire class through experience, resources, and the absence of conflicts of interest.

It is crucial to note that both domestic and international investors who meet these criteria are eligible to seek appointment as the lead plaintiff in the STMicroelectronics class action lawsuit, as courts have consistently recognized the rights of non-U.S. investors in securities class actions.

LEGAL REQUIREMENTS FOR PREVAILING IN THE STMICROELECTRONICS CLASS ACTION LAWSUIT

​To succeed in the STMicroelectronics class action lawsuit, the plaintiffs must establish the following elements:

1. Material Misrepresentation or Omission ​
2. Scienter
3. Connection to Securities Transaction
4. Reliance
5. Economic Loss
6. Loss Causation

Establishing these elements is crucial for the plaintiffs to prevail in the STMicroelectronics class action lawsuit and recover damages on behalf of the class members.

STAGES OF THE STMICROELECTRONICS CLASS ACTION LAWSUIT

​​Securities class action lawsuits typically follow a multi-stage process, which may include:

1. Consolidation and Lead Plaintiff Appointment: Related cases are consolidated, and the court appoints the lead plaintiff(s) to represent the class.
2. Filing of Consolidated Complaint: The lead plaintiff files a consolidated complaint outlining the allegations against the defendants.
3. Motion to Dismiss: The defendants may file a motion to dismiss the complaint, which the court will consider and rule upon.
4. Class Certification: The court determines whether the case meets the criteria for class certification, allowing it to proceed as a class action.
5. Discovery: Both parties exchange relevant documents and information through the discovery process.
6. Settlement Negotiations and Mediation: The parties may engage in settlement negotiations or mediation to explore the possibility of resolving the case without a trial.
7. Summary Judgment Motions: The parties may file motions for summary judgment, seeking a resolution without a trial based on the undisputed facts.
8. Trial: If the case does not settle, it proceeds to trial, where a judge or jury will determine liability and damages.
9. Appeals: Either party may appeal the court’s decisions, potentially extending the litigation timeline.

​The duration of a securities class action lawsuit can vary significantly depending on the complexity of the case and the parties’ willingness to engage in settlement negotiations.

CONTINGENCY FEE ARRANGEMENTS AND COST CONSIDERATIONS

Many securities’ litigation attorneys, including Timothy L. Miles, operate on a contingency fee basis, which means:

• Clients do not pay any upfront fees or costs.
• Instead, the attorney’s fees and expenses are deducted from any settlement or judgment recovered on behalf of the class, typically as a court-approved percentage of the total recovery.

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This arrangement ensures that investors can pursue their legal rights without bearing the financial burden of costly litigation, as the attorneys assume the risk and only receive compensation if they achieve a successful outcome for the class.

CONTACT STMICROELECTRONICS STOCK LOSS LAWYER TODAY TIMOTHY L. MILES TODAY ABOUT A STMICROELECTRONICS CLASS ACTION LAWSUIT

​If you suffered losses in STMicroelectronics ​stock, contact STMicroelectronics stock loss lawyer Timothy L. Miles today for a free case evaluation about a STMicroelectronics class action lawsuit. Call today and see what a STMicroelectronics stock loss lawyer could do for you if you suffered losses in STMicroelectronics​ stock. ​This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. ​​​

The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846–6529
​​Email: [email protected]

STMicroelectronics stock loss lawyer Timothy L. Miles

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors,  shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,​Class Action:  Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022).  Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.  Please visit our website or call for free anytime.
• Top 100 Civil Plaintiff Trial Lawyers by The National Trial Lawyers Association (2017-2022).
• Class Action:  Top 25 National Trial Lawyers by the National Trial Lawyers Association (2023)
• AV® Preeminent™ Attorney by Martindale-Hubbell® (2014-2022).
• AV® Preeminent™ Attorney – Judicial Edition (2017-2022).
• Top Ranked Lawyer by Martindale-Hubbell® and ALM  (2019-2022).
• Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022)
• Elite Lawyer of the South by Martindale-Hubbell® and ALM  (2019-2022).
• PRR AV Preeminent Rating on Lawyers.com by Martindale-Hubble® (2018-2022).
• America’s Most Honored Lawyers 2020 – Top 1% by Lawyers of Distinction (2020-2021).
• America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022).
• Top 1% of Attorneys in America by Premier Lawyers of America (2019-2021).
• Nation’s Top One Percent by the National Association of Distinguished Counsel (2021).
• The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability by Martindale-Hubble® (Feb. 2015).
• Distinguished Lawyer, Recognizing Excellence in Securities Law, Lawyers of Distinction (2019-2021)
• Lifetime Achievement Award by Premier Lawyers of America (2019-2021).
• Superb Rated Attorney, (10.0 out of 10), the Highest Rating Possible by Avvo.
• Avvo Top Rated Lawyer (Avvo 2017-2022).
• Avvo Client's Choice Award 2021 (Avvo 2021).
• Elite Lawyer 2021 by Elite Lawyer (2019-2021).
• America’s Most Honored Professionals – Top 1% (American Registry 2016-2022).
• Top Rated Lawyers in Tennessee (Lawyers of Distinction 2021-2022)

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
​​Phone:(855) 846-6529
​Email: [email protected]