Trending...
- EFLOW FX Pioneers Tokenized Real Estate for Greater Accessibility and Growth
- Reality TV Star Vanessa Valente Gets Candid About Life After Temptation Island on Sisters Uncensored
- Rochester: Free Financial Wellness Workshops Saturday
NEW YORK, Sept. 12, 2024 /PRNewswire/ -- 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=101879&from=4
CLASS PERIOD: January 25, 2024 to July 24, 2024
ALLEGATIONS: According to the complaint, STMicroelectronics disclosed on July 25, 2024, its U.S. GAAP financial results for the second quarter ending June 29, 2024, and subsequently revised its full-year revenue and margin projections downward for the second time within the current fiscal year. The company now anticipates total revenue for 2024 to fall within the range of $13.2 billion to $13.7 billion, a reduction from the prior forecast of $14 billion to $15 billion. Notably, during the fourth-quarter 2023 earnings call held in January, the company had projected 2024 revenues to range between $15.9 billion and $16.9 billion. For the second quarter, revenue experienced a 25.3% decline year-over-year, amounting to $3.23 billion. Additionally, net sales to Original Equipment Manufacturers (OEMs) and through Distribution channels decreased by 14.9% and 43.7%, respectively, on a year-over-year basis. On this news, the stock dropped over 13% during pre-market trading on July 25, 2024.
More on Nyenta.com
DEADLINE: October 22, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/stmicroelectronics-loss-submission-form/?id=101879&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of STM during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is October 22, 2024. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
More on Nyenta.com
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (646) 453-8903
SOURCE The Gross Law Firm
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
440k+
Newsrooms &
Influencers
9k+
Digital Media
Outlets
270k+
Journalists
Opted In
GET STARTED
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=101879&from=4
CLASS PERIOD: January 25, 2024 to July 24, 2024
ALLEGATIONS: According to the complaint, STMicroelectronics disclosed on July 25, 2024, its U.S. GAAP financial results for the second quarter ending June 29, 2024, and subsequently revised its full-year revenue and margin projections downward for the second time within the current fiscal year. The company now anticipates total revenue for 2024 to fall within the range of $13.2 billion to $13.7 billion, a reduction from the prior forecast of $14 billion to $15 billion. Notably, during the fourth-quarter 2023 earnings call held in January, the company had projected 2024 revenues to range between $15.9 billion and $16.9 billion. For the second quarter, revenue experienced a 25.3% decline year-over-year, amounting to $3.23 billion. Additionally, net sales to Original Equipment Manufacturers (OEMs) and through Distribution channels decreased by 14.9% and 43.7%, respectively, on a year-over-year basis. On this news, the stock dropped over 13% during pre-market trading on July 25, 2024.
More on Nyenta.com
- SJ Auctioneers' online-only auction, October 27, has items ranging from estate silverware to vintage Japanese tin toy buses
- The Power of Now in Baseball - Free for Athletes, Coaches, and Parents
- ALLTRA SonicSwap Expands DeFi Opportunities with Weekly Listings and Global Partnerships
- ALL Mainnet Launches AUSDT Stablecoin onto the global arena
- SHAREHOLDER INVESTIGATION: The M&A Class Action Firm Investigates the Mergers and Looming Votes of CBZ, GVP and AFBI
DEADLINE: October 22, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/stmicroelectronics-loss-submission-form/?id=101879&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of STM during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is October 22, 2024. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
More on Nyenta.com
- The Giving Edge: Is Leveraging Outrageous Kindness the Missing Link for Corporate ROI?
- New Rochelle: Main Street Overnight Paving Begins October 9
- One Of The Largest Native American Burial Sites In The United States Moves A Step Closer To National Recognition
- InventHelp Inventor Develops New Repair Accessory for Footed Pajamas (LJD-401)
- Cummings Graduate Institute for Behavioral Health Studies Announces New Book: Integrated Behavioral Health: Applying the Biodyne Mindset in Healthcare
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (646) 453-8903
SOURCE The Gross Law Firm
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
440k+
Newsrooms &
Influencers
9k+
Digital Media
Outlets
270k+
Journalists
Opted In
GET STARTED
Filed Under: Business
0 Comments
Latest on Nyenta.com
- The City Tutors Welcomes Brad Timmers as New Chief Technology Officer to Drive Tech Innovation
- Farther Secures $72 Million Series C from CapitalG and Viewpoint Ventures to Continue Revolutionizing Wealth Management
- Bug Busters Celebrates 40 Years in the Pest Control Industry
- Invenio IT Partners with Vonahi Security to Offer Automated Network Penetration Testing for Enhanced Security
- Rochester: Final International Plaza Market Sunday to Feature Hispanic Heritage Month Celebration
- National Minority Health Association and Cell-Ed Announce Upcoming Webinar: Empowering Caregivers Through Innovative Training Programs
- After 300 miles of New York City driving, AMCI Testing's latest evaluation of Tesla FSD ( Supervised) demonstrates it is clearly not capable of self-driven taxi duty
- SHAREHOLDER INVESTIGATION: The M&A Class Action Firm Investigates the Mergers of PWUP and ESGR
- EFLOW FX Pioneers Tokenized Real Estate for Greater Accessibility and Growth
- Rochester: Statement by Mayor Malik D. Evans Regarding Walgreens Store Closures
- Free 6-Month Premium Matrimonial Membership Now Available on IndoMarry.com
- SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of 2seventy bio, Inc. - TSVT
- Rochester Central Library makes local history: First public library to send youth to nation's capital
- Rochester: Final Community Garage Sale and Super Flea of 2024 Sunday at Public Market
- New Rochelle: NR Youth Bureau -Healthy Bites Program
- Reality TV Star Vanessa Valente Gets Candid About Life After Temptation Island on Sisters Uncensored
- NEMTAC Announces Public Comment Period for the NEMTAC 3001-202X Transportation Specialist Education Draft Standard
- What is the Power of We Hosts Together Moving Summit to Combat Gender-Based Violence
- Dr. Stephen Shainbart, PHD, Highlights 5 Reasons to Discuss Family Therapy and Couples Counseling in Buffalo, NY
- Restoration Specialists Celebrates a Successful 2024 and Strong Q4