SHAREHOLDER ALERT: HSAI BIRD STEM: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines

NEW YORK, NY / ACCESSWIRE / May 24, 2023 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. There will be no obligation or cost to you.

Hesai Group (NASDAQ:HSAI)

If you suffered a loss, contact us at: https://www.wongesq.com/pslra-1/hesai-group-class-action-submission-form?prid=39841&wire=1
Lead Plaintiff Deadline: June 6, 2023
This lawsuit is on behalf of investors who purchased Hesai Group securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with Hesai's February 2023 initial public offering.

Allegations against HSAI include that: (1) Hesai Group's gross margin decrease was caused by a lower in-house utilization rate; (2) Hesai Group's gross margin was 30% for the fourth quarter-which was completed over a month before the date of the amended registration statement; and (3); as a result, defendants' public statements were materially false and misleading at all relevant times and negligently prepared.

Allbirds, Inc. (NASDAQ:BIRD)

If you suffered a loss, contact us at: https://www.wongesq.com/pslra-1/allbirds-class-action-submission-form?prid=39841&wire=1
Lead Plaintiff Deadline: June 12, 2023
This lawsuit is on behalf of persons and entities that purchased or otherwise acquired: (a) Allbirds Class A common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's November 2021 initial public offering; and/or (b) Allbirds securities between November 4, 2021 and March 9, 2023, inclusive.

Allegations against BIRD include that: (1) Allbirds was overemphasizing products that extended beyond the Company's core offerings; (2) the Company's non-core products had a narrower appeal and were not resonating with customers as well as the Company's core products; (3) Allbirds was underinvesting in its core consumers' favorite products to push the Company's newer products with narrower appeal; (4) underinvesting in Allbirds' core products was negatively impacting the Company's sales; and (5) 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.

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

If you suffered a loss, contact us at: https://www.wongesq.com/pslra-1/stem-inc-class-action-submission-form?prid=39841&wire=1
Lead Plaintiff Deadline: July 11, 2023
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.

Allegations against STEM include 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.

To learn more contact Vincent Wong, Esq. either via email vw@wongesq.com or by telephone at 212.425.1140.

Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com

SOURCE: The Law Offices of Vincent Wong

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