The Gross Law Firm Announces Class Actions on Behalf of Shareholders of PLUG, STEM and CGC

NEW YORK, NY / ACCESSWIRE / June 5, 2023 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

Plug Power Inc. (NASDAQ:PLUG)

Investors Affected : August 9, 2022 - March 1, 2023

A class action has commenced on behalf of certain shareholders in Plug Power Inc. According to the filed complaint, Plug was unable to effectively manage its supply chain and product manufacturing, resulting in reduced revenues and margins, increased inventory levels, and several large deals being delayed until at least 2023, among other issues. As a result, defendant's statements about the Company's business, operations, prospects, and ability to effectively manage its supply chain and production lacked a reasonable basis.

Shareholders may find more information at https://securitiesclasslaw.com/securities/plug-power-inc-loss-submission-form-2/?id=40374&from=1

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.

A class action has commenced on behalf of certain shareholders in Stem, Inc f/k/a Star Peak Energy Transition Corp. The filed complaint alleges that defendants 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.

Shareholders may find more information at https://securitiesclasslaw.com/securities/stem-inc-f-k-a-star-peak-energy-transition-corp-loss-submission-form/?id=40374&from=1

Canopy Growth Corporation (NASDAQ:CGC)

Investors Affected : May 31, 2022 - May 10, 2023

A class action has commenced on behalf of certain shareholders in Canopy Growth Corporation. The filed complaint alleges that defendants 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.

Shareholders may find more information at https://securitiesclasslaw.com/securities/canopy-growth-loss-submission-form/?id=40374&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm

ACCESSWIRE

News network reaching more than 1,500 media outlets in 98 countries. The newest, fastest-growing and most disruptive newswire available today.