NEW YORK,
Jan. 13,
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=35575&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
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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content:https://www.prnewswire.com/news-releases/gotu-shareholder-alert-jakubowitz-law-reminds-gaotu-shareholders-of-a-lead-plaintiff-deadline-of-february-28-2023-301720947.html
SOURCE Jakubowitz Law