Faruqi & Faruqi Reminds STMicroelectronics Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of October 22, 2024 - STM

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against STMicroelectronics due to significant losses suffered by investors, particularly following the company's recent financial disclosures and lowered revenue guidance for fiscal year 2024 [1][3][4]. Group 1: Legal Investigation and Claims - Faruqi & Faruqi is encouraging investors who incurred losses exceeding $100,000 in STMicroelectronics between January 25, 2024, and July 24, 2024, to discuss their legal options [1]. - The firm has set an October 22, 2024, deadline for investors to seek the role of lead plaintiff in a federal securities class action against STMicroelectronics [1][5]. - The investigation focuses on allegations that STMicroelectronics provided misleading information regarding its revenue expectations and market conditions, particularly in the industrial and automotive sectors [3]. Group 2: Financial Performance and Market Reaction - On July 25, 2024, STMicroelectronics announced its second-quarter financial results and reduced its revenue guidance for the full fiscal year 2024, citing a lack of improvement in customer orders for industrial products and a decline in automotive demand [4]. - Following this announcement, STMicroelectronics' stock price fell from $39.54 per share on July 24, 2024, to $33.47 per share on July 25, 2024, marking a decline of over 15.3% in one day [4].