STEM LAWSUIT ALERT: Levi & Korsinsky Notifies Stem, Inc. f/k/a Star Peak Energy Transition Corp. Investors of a Class Action Lawsuit and Upcoming Deadline

NEW YORK, June 22, 2023

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Stem investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired Stem securities: (a) pursuant and/or traceable to certain documents issued in connection with the merger consummated on April 28, 2021, by and among the Company, STPK Merger Sub Corp., and Stem, Inc., a private Delaware corporation; and/or (b) between March 4, 2021, and February 16, 2023, both dates inclusive. Follow the link below to get more information and be contacted by a member of our team:

https://zlk.com/pslra-1/stem-lawsuit-loss-submission-form?prid=41137&wire=4

STEM investors may also contact Joseph E. Levi, Esq. via email
at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that:  (i) Legacy Stem suffered from material weaknesses in internal control over financial reporting related to accounting for the 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 makeup 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.

WHAT'S NEXT? If you suffered a loss in Stem during the relevant time frame, you have until July 11, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.