NEW YORK, Jan. 25, 2023 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Gaotu Techedu Inc. F/K/A Gsx Techedu Inc..
Shareholders who purchased shares of GOTU during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
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CLASS PERIOD: 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.
ALLEGATIONS: The complaint alleges that during the class period, Defendants 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.
DEADLINE: February 28, 2023 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/gaotu-techedu-inc-f-k-a-gsx-techedu-inc-loss-submission-form/?id=35887&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of GOTU during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is February 28, 2023. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
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