Law Offices of Howard G. Smith announces an investigation on behalf of TaskUs, Inc. (“TaskUs” or the “Company”) (NASDAQ: TASK) investors concerning the Company’s possible violations of federal securities laws.
On January 20, 2022, Spruce Point Capital Management, LLC published a report alleging, among other things, that TaskUs “has a pattern of exaggerated and inflated business claims, including revenue, and is covering-up financial strain with reduced disclosures, cherry-picked market data, and non-standard key performance metrics.” Regarding the financial strain, the report alleged that “28% of sales [are related] to Facebook and related to the controversial area of ‘Content Moderation,’” which has “requir[ed] more labor to fill tasks, but that it is not translating into additional revenue.”
On this news, TaskUs’s stock fell $5.46, or 15.3%, to close at $30.13 per share on January 20, 2022, thereby injuring investors.
If you purchased TaskUs securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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