Philadelphia, Pennsylvania--(Newsfile Corp. - January 10, 2024) - A recently filed securities fraud class action complaint against TaskUs, Inc. (NASDAQ: TASK) has survived a motion to dismiss. That complaint alleges that TaskUs, via certain of its officers and directors, made materially false and misleading positive statements about its business, when in truth: (1) TaskUs was experiencing severe financial strain and business challenges; (2) the Content Security market was smaller than Defendants represented and Defendants' representations were based on outdated market data; (3) TaskUs improperly recognized revenue from certain key contracts; (4) Defendants overstated the size of TaskUs' workforce as well as employee retention rates, and understated attrition rates; and (5) that, as a result of the foregoing, these positive statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.
Current TaskUs shareholders who have held TaskUs shares since prior to June 11, 2021 can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever.
If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/taskus-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or Mia Heller at mheller@grabarlaw.com, or call 267-507-6085.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/193810
