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GOTU LAWSUIT ALERT: Levi & Korsinsky Notifies Gaotu Techedu Inc. F/K/A Gsx Techedu Inc. Investors of a Class Action Lawsuit and Upcoming Deadline
News provided byLevi & Korsinsky, LLP
Jan 26, 2023, 5:45 AM ET
NEW YORK, Jan. 26, 2023 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Gaotu Techedu Inc. F/K/A Gsx Techedu Inc. ("Gaotu" or the "Company") (NYSE: GOTU) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Gaotu investors who were adversely affected by alleged securities fraud. 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. Follow the link below to get more information and be contacted by a member of our team:
GOTU investors may also contact Joseph E. Levi, Esq. via email at email@example.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed 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.
WHAT'S NEXT? If you suffered a loss in Gaotu during the relevant time frame, you have until February 28, 2023 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.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
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SOURCE Levi & Korsinsky, LLP