A securities class action has been filed in the USDC — S.D.N.Y. against STMicroelectronics NV (STM) (“STM” or the “Company”), on behalf of all persons or entities that purchased or otherwise acquired STM common stock between January 25, 2024 and July 24, 2024, both dates inclusive (the “Class Period”).

STM is a global company that designs, develops, manufactures, and sells semiconductor products around the world. STM tailors its products to four end-markets: automotive, industrial, personal electronics, and communications equipment, computers and peripherals.

The complaint alleges that the Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of STM’s salesforce; notably, that it was not truly equipped to execute on the Company’s perceived growth potential. Such statements absent these material facts caused Plaintiff and other shareholders to purchase STM’s securities at artificially inflated prices.

On this news, the price of STM’s common stock declined dramatically. From a closing market price of $39.54 per share on July 24, 2024, STM’s stock price fell to $33.47 per share on July 25, 2024, a decline of more than 15.3% in the span of one day.

If you purchased STM common stock during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.