Stem Inc. is facing a proposed investor class action alleging the company failed to disclose internal financial control issues in statements and offering documents filed in connection with a 2021 merger, which later caused the company’s stock to drop.
Stem describes itself as “a global leader in artificial intelligence (AI)-driven clean energy storage services.” The company announced on April 28, 2021 that it completed a “business combination” with Star Peak Energy Transition Corp.
Named plaintiff Scott Petersen seeks to represent a class of those who acquired Stem securities “pursuant and/or traceable to the offering documents issued in connection with the ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.