Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Goldman Sachs Group Inc. (“Goldman Sachs”) and Morgan Stanley (“Morgan Stanley”) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Gaotu Techedu Inc., f/k/a GSX Techedu Inc. (“Gaotu” or the “Company”) (NYSE: GOTU) American Depository Shares (“shares”) between March 22, 2021 and March 29, 2021, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/gotu.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, Defendants Goldman Sachs Group Inc. and Morgan Stanley traded while in possession of material non-public information. The complaint also alleges that Defendants: (1) obtained the material non-public information pursuant to their agreements with Archegos Capital Management's ("Archegos") and as a result of their serving as prime brokers of Archegos; (2) knew, recklessly disregarded, or should have known that they owed a fiduciary duty, or obligation arising from a similar relationship of trust and confidence, to Archegos to keep the information confidential; and (3) while in possession of material, non-public adverse information, collectively sold billions of dollars' worth of Gaotu shares.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/gotuor you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Gaotu you have until December 20, 2021, to 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
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