STMicroelectronics Lawsuit Submission Form

Company: STMicroelectronics N.V.

Ticker: (NYSE) STM

Deadline

Passed

Lead Plaintiff Deadline: October 22, 2024

Case Alerts

Every year, thousands of shareholders miss deadlines to receive settlement funds. Make sure you don’t. Sign up for case alerts.

To receive more detailed alerts provide your information below.

Request Case Alerts

Levi & Korsinsky, LLP does not share your information with others. There is no cost or obligation for you to submit. No spam will be sent to your email.

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.