NEW YORK, June 07, 2023 (GLOBE NEWSWIRE) --
STEM, Inc. (NYSE: STEM)
Lifshitz Law PLLC announces investigation into possible securities laws violations and/or breaches of fiduciary duties in connection with allegations that the Offering Documents issued in connection with the Company’s merger with Legacy Stem were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Specifically, the Offering Documents and the Company made 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 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 make up 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 the Company’s public statements throughout the Relevant Period were materially false and/or misleading and failed to state information required to be stated therein.
If you are a STEM investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at info@lifshitzlaw.com.
The Walt Disney Company (NYSE: DIS)
Lifshitz Law PLLC announces investigation into possible securities laws violations and/or breaches of fiduciary duties in connection with allegations that the Company made false and/or misleading statements and/or failed to disclose that: (i) Disney+ was suffering decelerating subscriber growth, losses, and cost overruns; (ii) the true costs incurred in connection with Disney+ had been concealed by Disney executives by debuting certain content intended for Disney+ initially on Disney’s legacy distribution channels and then making the shows available on Disney+ thereafter to improperly shift costs out of the Disney+ segment; (iii) the Company had made platform distribution decisions based not on consumer preference, consumer behavior, or the desire to maximize the size of the audience for the content as represented, but based on the desire to hide the full costs of building Disney+’s content library; and (iv) the Company was not on track to achieve even the reduced 2024 Disney+ paid global subscriber and profitability targets, such targets were not achievable, and such estimates lacked a reasonable basis in fact.
If you are a DIS investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at info@lifshitzlaw.com.
Beyond Meat, Inc. (NASDAQ: BYND)
Lifshitz Law PLLC announces investigation into possible securities laws violations and/or breaches of fiduciary duties in connection with allegations that the Company made numerous materially false and misleading statements and omissions concerning the Company’s ability to produce plant-based meats at scale. Specifically, the Company repeatedly assured investors that Beyond Meat conducted “extensive testing” to “ensure manufacturability” of its plant-based meat products at commercial scale, and touted the success of the Company’s product tests with its large-scale partnerships as “very positive.” Further, the the Company blamed any delays in launching these large-scale partnerships on Covid-19.
If you are a BYND investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at info@lifshitzlaw.com.
Twist Bioscience Corporation (NASDAQ: TWST)
Lifshitz Law PLLC announces investigation into possible securities laws violations and/or breaches of fiduciary duties in connection with allegations that the Company overstated the commercial viability of Twist’s synthetic DNA manufacturing technology while engaging in accounting fraud and using unsustainable pricing to inflate the Company’s true financial condition and prospects.
If you are a Twist investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or email at info@lifshitzlaw.com.
ATTORNEY ADVERTISING.© 2023 Lifshitz Law PLLC. The law firm responsible for this advertisement is Lifshitz Law PLLC, 1190 Broadway, Hewlett, New York 11557, Tel: (516)493-9780. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact:
Joshua M. Lifshitz, Esq.
Lifshitz Law PLLC
Phone: 516-493-9780
Facsimile: 516-280-7376
Email: jlifshitz@lifshitzlaw.com
