NEW YORK, NY / ACCESSWIRE / May 25, 2023 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.
Hesai Group (NASDAQ:HSAI)
CONTACT JAKUBOWITZ ABOUT HSAI:
https://claimyourloss.com/securities/hesai-class-action-loss-submission-form/?id=39965&from=1
This lawsuit is on behalf of investors who purchased Hesai Group securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with Hesai's February 2023 initial public offering.
Lead Plaintiff Deadline : June 6, 2023
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Hesai Group's gross margin decrease was caused by a lower in-house utilization rate; (2) Hesai Group's gross margin was 30% for the fourth quarter-which was completed over a month before the date of the amended registration statement; and (3); as a result, defendants' public statements were materially false and misleading at all relevant times and negligently prepared.
Telephone and Data Systems, Inc. (NYSE:TDS)
CONTACT JAKUBOWITZ ABOUT TDS:
https://claimyourloss.com/securities/tds-class-action-loss-submission-form/?id=39965&from=1
Class Period : May 6, 2022 - November 3, 2022
Lead Plaintiff Deadline : July 3, 2023
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) defendants had no reason to believe UScellular's "free upgrade" promotional activity, which was tested and trialed during the second quarter of 2022, was effective at reducing the UScellular's postpaid churn rate as they represented to investors, as opposed to merely adding new postpaid subscribers, when its churn rate was actually increasing or remaining constant over most quarters in the class period; (ii) UScellular was not making progress with respect to its churn rate, as it represented to investors; (iii) UScellular was not in fact balancing its promotional activity and its profitability; (iv) due to extreme competition among postpaid carriers, UScellular did not have the flexibility to offset the costs from widespread, expensive promotions with price increases; and (v) as a result of the Companies' decision for UScellular to continue engaging in heavy promotions to address its postpaid subscriber churn rate despite any lack of positive impact on churn rate, UScellular's profitability substantially declined.
Stem, Inc. f/k/a Star Peak Energy Transition Corp. (NYSE:STEM)
CONTACT JAKUBOWITZ ABOUT STEM:
https://claimyourloss.com/securities/stem-inc-class-action-loss-submission-form/?id=39965&from=1
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.
Lead Plaintiff Deadline : July 11, 2023
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.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
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New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
SOURCE: Jakubowitz Law