Overview

A class action lawsuit has been filed against STMicroelectronics N.V. (“STM” or the “Company”) (NYSE: STM) and certain of the Company’s former senior executive officers alleging violations of the federal securities laws.  The STM class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired STM securities between January 25, 2024, to July 24, 2024, both dates inclusive (the “Class Period”).  Investors have until October 22, 2024, to seek appointment as lead plaintiff of the STM class action lawsuit.

STM is a global company that designs, develops, manufactures, and sells semiconductor products around the world.  STM tailors its products to four end-markets: automotive, industrial, personal electronics, and communications equipment, computers, and peripherals.

The STM class action lawsuit alleges that Defendants provided investors with material information concerning STM’s expected revenue for the fiscal year 2024.  Defendants’ statements included, among other things, confidence in the Company’s understanding of the industrial and automotive sectors’ recovery paths, repeated indications that they had hit the proverbial “bottom” of these trends, and continued claims that the low points of their original and updated guides factored in the risks associated with these macro trends.

STM provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of STM’s forecasting ability; notably, that the Company did not truly have appropriate visibility to generate the guidance it put forth, failed to appropriately analyze the visibility it did have, or otherwise the Company was simply not truly equipped to handle the ongoing challenges in its end-market industries as they had projected.  Such statements absent these material facts caused Plaintiff and other shareholders to purchase STM’s securities at artificially inflated prices.

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If you purchased or otherwise acquired STM securities between January 25, 2024, to July 24, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as a lead plaintiff in the STM class action lawsuit is October 22, 2024.