NEW
YORK, Feb. 3, 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=36169&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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SOURCE Jakubowitz Law