INTRODUCTION TO THE STMICROELECTRONICS CLASS ACTION LAWSUIT
Call Timothy L. Miles today for a free case evaluation in 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., No. 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., No. 24-cv-06384 (S.D.N.Y.).
If you have suffered losses in STMicroelectronics stock and are interested in becoming the lead plaintiff in the STMicroelectronics class actionlawsuit 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.
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 actionlawsuit:
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.
YOU HAVE TWO CHOICES IF YOU RECEIVE A NOTICE IN THE STMicroelectronics CLASS ACTION LAWSUIT
First, read the notice very carefully. You have two choices.
First, you can do nothing and remain a member of the class represented by lead counsel.
Second, if you believe you have a large enough loss to justify it, you can opt out of the STMicroelectronics class actionlawsuit and file your own separate lawsuit.
Note, that if you opt-out, you will not be able to participate in any settlement or recovery obtained in the STMicroelectronics class actionlawsuit.
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 actionlawsuit.
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.
Having a voice in decision-making processes regarding the settlement.
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
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:
Securities Acquisition: The investor must have purchased or acquired STMicroelectronics common stock during the Class Period, spanning June 23, 2022, and March 6, 2024.
Financial Losses: The investor must have suffered financial losses as a direct result of the alleged securities fraud perpetrated by STMicroelectronics and its executives.
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
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.
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.
FREQUENTLY ASKED QUESTIONS ABOUT THE STMicroelectronics CLASS ACTION LAWSUIT
Can I serve as a lead plaintiff in the class action against Methode Electronics if I purchases shares outside of the class period?
No. Even if you suffered losses in STMicroelectronics stock, if you purchased securities outside of the Class period, you will not be able to participate in the STMicroelectronics class actionlawsuit.
Can I serve as a lead plaintiff in the class action against STMicroelectronics if I am serving as lead plaintiff in another securities fraud case?
Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in Methode Electronics stock, you may move to be appointed lead plaintiff in the STMicroelectronics lawsuit.
Can the court appoint more than one lead plaintiff in the STMicroelectronics class action lawsuit?
Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs in the STMicroelectronics class action lawsuit.
How do I know if I am a member of the class in the class action against STMicroelectronics?
If you purchased shares during the class period and suffered losses in STMicroelectronics stock, then you are most likely a member of the class in the STMicroelectronics class actionlawsuit and may participate in the STMicroelectronics lawsuit since you suffered losses in STMicroelectronics class actionlawsuit.
Resources for Investors in the STMICROELECTRONICS Class Action Lawsuit and Others
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 STMicroelectronicsstock. This will most likely be the only call you need to make. (855) 846–6529 or [email protected].
STMICROELECTRONICSCLASS ACTION LAWSUIT STMICROELECTRONICS STOCK LOSS LAWYER TIMOTHY L. MILES 300 CENTERVIEW DR, UNIT 247 BRENTWOOD, TN 27027 855-846-6528
FREE CASE EVALUATION: CLASS ACTION AGAINST STMICROELECTRONICS If you suffered losses in STMicroelectronics stock, call STMicroelectronics stock loss lawyer Timothy L. Miles today for a free case evaluation about a STMicroelectronics class action lawsuit. 855-846-6528
Call Timothy L. Miles today for a free case evaluation in the STMicroelectronics class action lawsuit
Give STMicroelectronics stock loss lawyer Timothy L. Miles a call about the STMicroelectronics class action lawsuit
