Press release
Investigation announced for Investors in shares of Stem, Inc. (NYSE: STEM) over potential Wrongdoing
An investigation on behalf of investors in Stem, Inc. (NYSE: STEM) shares over potential wrongdoing at Stem, Inc. was announced.
Investors who purchased shares of Stem, Inc. (NYSE: STEM) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Stem, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
San Francisco, CA based Stem, Inc. operates as a digitally connected and intelligent energy storage network provider in the United States and internationally. Stem, Inc. reported that its annual Total Revenue rose from $36.3 million in 2020 to $127.37 million in 2021, and that its Net Loss declined from $156.12 million in 2020 to $101.21 million in 2021.
On January 11, 2023, Blue Orca Capital issued a short report alleging multiple claims. The report claims that it has uncovered "undisclosed to investors, STEM is financing its flagship customer to purchase energy storage systems from STEM. Rather than a "big win" and proof that STEM could compete for big utility scale projects, we think STEM won its supposed flagship deal by surreptitiously paying for it."
Shares of Stem, Inc. (NYSE: STEM) declined from $9.40 per share on January 10, 2023, to $8.35 per share on January 11, 2023. Since then shares of Stem, Inc. (NYSE: STEM) rose to $11.00 per share on January 18, 2023.
Those who purchased shares of Stem, Inc. (NYSE: STEM) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.
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