NEW YORK, July 10, 2023 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Icahn Enterprises L.P. ( IEP)
Class Period: August 2, 2018 - May 9, 2023
Deadline: July 10, 2023
For more info: www.bgandg.com/iep.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Icahn Enterprises was inflating its net asset value; (2) that the Company was using money taken in from new investors to pay out dividends to old investors; (3) that, as a result, the Company would become the subject of criminal and/or regulatory scrutiny; and (4) that as a result of the foregoing, Defendant’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Beyond Meat, Inc. ( BYND)
Class Period: May 5, 2020 - October 13, 2022
Deadline: July 10, 2023
For more info: www.bgandg.com/bynd.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) Beyond Meat misled investors by boasting about the success of its product tests with its large-scale partnerships, including prominent food retailers like McDonalds, Starbucks, KFC, Pizza Hut, and Taco Bell; (2) Beyond Meat assured investors and partners that it would "ensure manufacturability" through "extensive testing," and that it was capable of manufacturing the unique plant-based meat products at commercial scale; and (3) Beyond Meat blamed any delays in launching these large-scale partnerships on Covid-19.
Stem, Inc. f/k/a Star Peak Energy Transition Corp. (: STEM; STEM.WT; STPK.U)
Class Period: (i) pursuant and/or traceable to the offering documents issued in connection with the merger (“Merger”) consummated on April 28, 2021 by and among the Company, STPK Merger Sup Corp. (“Merger Sub”), and Stem, Inc., (“Legacy Stem”); and/or (ii) between March 4, 2021 and February 16, 2023, both dates inclusive (the “Class Period”).
Deadline: July 11, 2023
For more info: www.bgandg.com/stem.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, the Complaint alleges that the offering documents and defendants made false and/or misleading statements and/or failed to disclose that: (1) Legacy Stem suffered from material weaknesses in internal control over financial reporting related to accounting for deferred cost of goods sold and inventory, certain revenue recognition calculations, and internal-use capitalized software calculations; (2) the Company had overstated Legacy Stem’s and its own post-Merger business and financial prospects; (3) Stem’s software revenue did not make up 100% of the Company’s services revenue; (4) Stem had overstated the benefits expected to flow from its AP partnership; and (5) 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]
