STMicroelectronics N.V. (NYSE: STM)

This lawsuit is for anyone who acquired securities in STMicroelectronics N.V. (NYSE: STM) from January 25, 2024 through July 24, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period metioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by issuing guidance without a reasonable basis for doing so.

On July 25, 2024, STM released its second quarter 2024 financial results and reduced its revenue guidance for the full fiscal year 2024, stating that “customer orders for Industrial did not improve and Automotive demand declined.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in STMicroelectronics N.V. (NYSE: STM) from January 25, 2024 through July 24, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.