NEW YORK, Jan. 20, 2023 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Gaotu Techedu Inc. F/K/A Gsx Techedu Inc. (NYSE: GOTU).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/gaotu-techedu-inc-f-k-a-gsx-techedu-inc-loss-submission-form/?id=35778&from=4
This lawsuit is on behalf of persons or entities who purchased or otherwise acquired publicly traded Gaotu American depository shares between March 5, 2021 and July 23, 2021, inclusive.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until February 28, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Gaotu Techedu Inc. F/K/A Gsx Techedu Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) China was barring tutoring for profit in core school subjects, and this policy change would restrict foreign investment in a sector that had become essential to success in Chinese school exams; and (2) the impact such regulations would have on Gaotu's operations and profitability and the value of Company securities.
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: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law
