Philadelphia, Pennsylvania--(Newsfile Corp. - March 10, 2022) - Berger Montagueis investigating securities fraud allegations on behalf of investors who purchased the securities of TaskUs, Inc. ("TaskUs" or the "Company") (NASDAQ: TASK) between June 11, 2021, through January 19, 2022 (the "Class Period").
If you purchased TaskUs securities during the Class Period, would like to discuss Berger Montague's investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Michael Dell'Angelo at mdellangelo@bm.net or (215) 875-3080 or visit: https://investigations.bergermontague.com/taskus-inc/.
Whistleblowers: Anyone with non-public information regarding TaskUs is encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
The Lawsuit: TaskUS, based in New Braunfels, Texas, is an outsourcing company.
According to a recently filed lawsuit, TaskUs' and senior management's claims about the company's content monitoring and moderation services ("Content Security") business, a core offering largely tied to Facebook, the size of that market, and workforce-related metrics, were false and misleading.
Defendants' claims were called into question on January 20, 2022, when analyst Spruce Point Management issued a report stating, among many 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."
The Spruce Point report caused TaskUs shares to fall $5.46 per share (or 15%), from a closing price of $35.59 per share on January 19, 2022 to a closing price of $30.13 per share on January 20.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contacts
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net
Michael Dell'Angelo, Executive Shareholder
Berger Montague
(215) 875-3080
mdellangelo@bm.net
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/116188
