NEW
YORK, Oct. 7, 2024 /PRNewswire/ -- The Gross Law
Firm issues the following notice to shareholders
of STMicroelectronics N.V. (NYSE: STM).
Shareholders who purchased shares of STM during the class period
listed are encouraged to contact the firm regarding possible lead
plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/stmicroelectronics-loss-submission-form/?id=106641&from=4
CLASS PERIOD: January 25,
2024 to July 24, 2024
ALLEGATIONS: According to the complaint,
STMicroelectronics disclosed on July 25,
2024, its U.S. GAAP financial results for the second quarter
ending June 29, 2024, and
subsequently revised its full-year revenue and margin projections
downward for the second time within the current fiscal year. The
company now anticipates total revenue for 2024 to fall within the
range of $13.2 billion to
$13.7 billion, a reduction from the
prior forecast of $14 billion to
$15 billion. Notably, during the
fourth-quarter 2023 earnings call held in January, the company had
projected 2024 revenues to range between $15.9 billion and $16.9
billion. For the second quarter, revenue experienced a 25.3%
decline year-over-year, amounting to $3.23
billion. Additionally, net sales to Original Equipment
Manufacturers (OEMs) and through Distribution channels decreased by
14.9% and 43.7%, respectively, on a year-over-year basis. On this
news, the stock dropped over 13% during pre-market trading on
July 25, 2024.
DEADLINE: October 22, 2024
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/stmicroelectronics-loss-submission-form/?id=106641&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of STM during the timeframe listed
above, you will be enrolled in a portfolio monitoring software to
provide you with status updates throughout the lifecycle of the
case. The deadline to seek to be a lead plaintiff is October 22, 2024. There is no cost or obligation
to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. The
firm seeks recovery on behalf of investors who incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm