CLASS ACTION UPDATE for STEM, CGC and LAZR: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, NY / ACCESSWIRE / June 19, 2023 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

STEM Shareholders Click Here: https://zlk.com/pslra-1/stem-lawsuit-loss-submission-form?prid=41054&wire=1
CGC Shareholders Click Here: https://zlk.com/pslra-1/canopy-growth-lawsuit-submission-form?prid=41054&wire=1
LAZR Shareholders Click Here: https://zlk.com/pslra-1/luminar-lawsuit-submission-form?prid=41054&wire=1

* ADDITIONAL INFORMATION BELOW *

Stem, Inc. f/k/a Star Peak Energy Transition Corp. (NYSE:STEM)

This lawsuit is on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired Stem securities: (a) pursuant and/or traceable to certain documents issued in connection with the merger consummated on April 28, 2021, by and among the Company, STPK Merger Sub Corp., and Stem, Inc., a private Delaware corporation; and/or (b) between March 4, 2021, and February 16, 2023, both dates inclusive.
Lead Plaintiff Deadline : July 11, 2023
TO LEARN MORE, VISIT: https://zlk.com/pslra-1/stem-lawsuit-loss-submission-form?prid=41054&wire=1

According to the filed complaint, (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.

Canopy Growth Corporation (NASDAQ:CGC)

CGC Lawsuit on behalf of: investors who purchased May 31, 2022 - May 10, 2023
Lead Plaintiff Deadline : July 24, 2023
TO LEARN MORE, VISIT: https://zlk.com/pslra-1/canopy-growth-lawsuit-submission-form?prid=41054&wire=1

According to the filed complaint, during the class period, Canopy Growth Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) there were material weaknesses in the Company's internal controls over accounting and financial reporting; (2) as a result, the Company improperly booked sales of its BioSteel business unit; (3) as a result, the Company's revenue was overstated; and (4) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Luminar Technologies, Inc. (NASDAQ:LAZR)

LAZR Lawsuit on behalf of: investors who purchased February 28, 2023 - March 17, 2023
Lead Plaintiff Deadline : July 25, 2023
TO LEARN MORE, VISIT: https://zlk.com/pslra-1/luminar-lawsuit-submission-form?prid=41054&wire=1

According to the filed complaint, during the class period, Luminar Technologies, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Luminar had misappropriated an image of a competitor's photonic integrated circuit ("PIC") to market the Company's own products and capabilities; (ii) the foregoing conduct subjected the Company to a heightened risk of, inter alia, litigation and/or regulatory enforcement action; (iii) all the foregoing, once revealed, was likely to negatively impact Luminar's business and reputation; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 4th Floor Suite #427
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE : Levi & Korsinsky, LLP

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