Stem Lawsuit Submission Form

Company: Stem, Inc. f/k/a Star Peak Energy Transition Corp.

Ticker: (NYSE) STEM

Deadline

Passed

Lead Plaintiff Deadline: July 11, 2023

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Allegations

The filed complaint alleges that Stem, Inc. f/k/a Star Peak Energy Transition Corp. made materially false and/or misleading statements and/or failed to disclose that: (i) Legacy Stem suffered from material weaknesses in internal control over financial reporting related to accounting for the deferred cost of goods sold and inventory, certain revenue recognition calculations, and internal-use capitalized software calculations; (ii) the Company had overstated Legacy Stem's and its own post-Merger business and financial prospects; (iii) Stem's software revenue did not makeup 100% of the Company's services revenue; (iv) Stem had overstated the benefits expected to flow from its AP partnership; and (v) as a result, the offering documents and defendants public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.