The Gross Law Firm Reminds Shareholders of a Lead Plaintiff Deadline of October 22, 2024 in STMicroelectronics Lawsuit - STM

Core Points - STMicroelectronics disclosed a downward revision of its full-year revenue and margin projections for 2024, now expecting total revenue to be between $13.2 billion and $13.7 billion, down from a previous forecast of $14 billion to $15 billion [1] - The company had initially projected 2024 revenues to range between $15.9 billion and $16.9 billion during its fourth-quarter 2023 earnings call [1] - For the second quarter of 2024, STMicroelectronics reported a revenue decline of 25.3% year-over-year, totaling $3.23 billion [1] - Net sales to Original Equipment Manufacturers (OEMs) and through Distribution channels decreased by 14.9% and 43.7% year-over-year, respectively [1] - Following the announcement, STMicroelectronics' stock dropped over 13% during pre-market trading on July 25, 2024 [1] Shareholder Information - Shareholders who purchased shares of STMicroelectronics during the class period from January 25, 2024, to July 24, 2024, are encouraged to contact the Gross Law Firm regarding possible lead plaintiff appointment [1][2] - The deadline for shareholders to register for the class action is October 22, 2024, and there is no cost or obligation to participate [2]