Investors urged to act on STMicroelectronics losses

Faruqi & Faruqi, LLP is investigating potential claims against STMicroelectronics N.V. following significant losses suffered by investors. Between January 25, 2024, and July 24, 2024, investors who incurred losses exceeding $100,000 are encouraged to contact the firm. The investigation stems from allegations that the company misled investors regarding its revenue expectations for fiscal year 2024, particularly in the industrial and automotive sectors. On July 25, 2024, STMicroelectronics announced disappointing financial results and reduced its revenue guidance, revealing that customer orders had not improved as anticipated. This announcement led to a sharp decline in the company's stock price, dropping over 15% in a single day. The firm is also seeking information from whistleblowers and others regarding the company's conduct, emphasizing the importance of transparency in the ongoing legal proceedings. Investors have until October 22, 2024, to seek the role of lead plaintiff in a federal securities class action against STMicroelectronics, which could have significant implications for the company and its shareholders.