On April 28, 2021, the Company consummated the Merger whereby, among other things, Merger Sub merged with and into Legacy Stem, with Legacy Stem surviving the transaction as a wholly owned subsidiary of the Company the Company renamed itself "Stem, Inc." and the Company began operating Legacy Stem's business. On March 30, 2021, the Company filed a joint prospectus and proxy statement (the "Prospectus" and, together with the Registration Statement, the "Offering Documents") on Form 424B3 with the SEC in connection with the Merger, which incorporated and formed part of the Registration Statement. ![]() Securities and Exchange Commission ("SEC") in connection with the Merger, which, after several amendments, was declared effective by the SEC on March 29, 2021. On December 17, 2020, the Company filed a registration statement ("Registration Statement") on Form S-4 with the U.S. On December 4, 2020, the Company announced that it had entered into a definitive agreement for the Merger with Legacy Stem, a purported global leader in AI-driven clean energy storage systems, that would result in a combined company with an estimated equity value of approximately $1.35 billion. Prior to the Merger, the Company operated as a publicly traded special purpose acquisition company. The Company's management has asserted that Stem's services revenue line is purportedly comprised entirely of software revenue. The Company offers energy storage systems sourced from original equipment manufacturers and provides an artificial intelligence ("AI") platform called Athena, which offers battery hardware and software-enabled services to operate the energy storage systems. Stem purports to operate as a digitally connected and intelligent energy storage network provider in the U.S. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. A copy of the Complaint can be obtained at To discuss this action, contact Robert S. ![]() If you are a shareholder who purchased or otherwise acquired Stem securities pursuant and/or traceable to the Offering Documents issued in connection with the Merger, and/or during the Class Period, you have until Jto ask the Court to appoint you as Lead Plaintiff for the class. Plaintiff pursues claims against the Defendants under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act"). ("Merger Sub"), and Stem, Inc., a private Delaware corporation ("Legacy Stem") and/or (b) between Maand February 16, 2023, both dates inclusive (the "Class Period"). The class action, filed in the United States District Court for the Northern District of California, and docketed under 23-cv-02329, 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 the Offering Documents (defined below) issued in connection with the merger ("Merger") consummated on Apby and among the Company, STPK Merger Sub Corp. ("STPK") STEM STEM.WS, STPK, STPK.WS, STPK.U))), and certain officers and directors. ("Stem" or the "Company") f/k/a Star Peak Energy Transition Corp. NEW YORK, J(GLOBE NEWSWIRE) - Pomerantz LLP announces that a class action lawsuit has been filed against Stem, Inc.
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