Core Viewpoint - A class action lawsuit has been filed against STMicroelectronics N.V. for allegedly misleading investors about its business prospects during the first half of 2024 [1][2]. Group 1: Allegations and Financial Performance - The lawsuit claims that STMicroelectronics failed to disclose a decline in demand in its automotive and industrial sectors, contrary to previous statements [2]. - As a result of the declining demand, the company's revenues and gross margins also continued to decline during this period [2]. - On July 25, 2024, STMicroelectronics announced Q2 2024 results, revising its FY 2024 revenue projections down to a range of $13.2 billion to $13.7 billion, a reduction from the previously revised forecast of $14 billion to $15 billion [3]. - The gross margin was also revised down to "about 40%," from the previously revised forecast of "in the low 40's" [3]. - Q2 revenue experienced a 25.3% decline year-over-year, amounting to $3.23 billion, with net sales to OEMs and through distribution channels decreasing by 14.9% and 43.7%, respectively, year-over-year [3]. Group 2: Market Reaction - Following the announcement of the negative financial results, STMicroelectronics' share price fell by $6.07 per share, or 15.35%, closing at $33.47 per share on July 25, 2024 [3]. Group 3: Legal Proceedings - Shareholders interested in participating in the class action must submit their application to the court by October 22, 2024 [4]. - A lead plaintiff will represent other class members in directing the litigation, but participation is not required to be eligible for recovery [4]. Group 4: Company Background - STMicroelectronics designs, develops, manufactures, and sells semiconductor products across various regions, including Europe, the Middle East, Africa, the Americas, and the Asia Pacific [1].

NEW YORK, Aug. 27, 2024 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers of securities of STMicroelectronics N.V (NYSE: STM) between January 25, 2024 and July 24, 2024. ST describes itself as a company that "designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific." So what: If you purchased STMicroelectronics securities during t ...

NEW YORK, Aug. 27, 2024 (GLOBE NEWSWIRE) -- 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=98152&from=3 CLASS PERIOD: January ...

NEW YORK, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announces that a shareholder has filed a securities class action lawsuit on behalf of investors (the "Class") who purchased or acquired the securities of STMicroelectronics N.V. ("STM" or the "Company") (NYSE: STM) between January 25, 2024 and July 24, 2024, inclusive (the "Class Period"). For more information, submit a form at STMicroelectronics N.V. Shareholder Class Action Lawsuit, email Investor Relations Manager Peter Allocco at pallocc ...

NEW YORK, Aug. 27, 2024 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in STMicroelectronics N.V. ("STMicroelectronics" or the "Company") (NYSE: STM) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of STMicroelectronics investors who were adversely affected by alleged securities fraud between January 25, 2024 and July 24, 2024. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/stmicr ...

SAN DIEGO, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired STMicroelectronics N.V. (NYSE: STM) securities between January 25, 2024 and July 24, 2024. STMicroelectronics, together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asian Pacific. For more information, submit a form, ema ...

NEW YORK, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired STMicroelectronics N.V. ("STMicroelectronics" or the "Company") (NYSE: STM) securities between January 25, 2024 and July 24, 2024, inclusive (the "Class Period"). The lawsuit seeks to recover damages for the Company's investors und ...

ATLANTA, Aug. 26, 2024 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against STMicroelectronics N.V. ("STM," "STMicroelectronics," or "the Company") (NYSE: STM). The lawsuit alleges that Defendants created the false impression that they possessed reliable information pertaining to the Company's projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations. Such statements are alleged to have caused Plaintiff and other shar ...

SAN DIEGO, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of STMicroelectronics N.V. (NYSE: STM) securities between January 25, 2024 and July 24, 2024, inclusive (the "Class Period"), have until October 22, 2024 to seek appointment as lead plaintiff of the STMicroelectronics class action lawsuit. Captioned Wang v. STMicroelectronics N.V., No. 24-cv-06370 (S.D.N.Y.), the STMicroelectronics class action lawsuit charges STMicroelectronics and certain o ...

NEW YORK, Aug. 23, 2024 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP: To: All persons or entities who purchased or otherwise acquired securities of STMicroelectronics N.V. ("STM" or the "Company") (NYSE: STM) between January 25, 2024 to July 24, 2024, both dates inclusive. You are hereby notified that the class action lawsuit Liyu Wang v. STMicroelectronics N.V., et al. (Case No. 1:24-cv-06370) has been commenced in the United States District Court for the Southern Di ...