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Investigation announced for Investors in shares of LAIX Inc. (NYSE: LAIX)

03-18-2020 06:16 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in LAIX Inc. (NYSE: LAIX) shares over potential securities laws violations by LAIX Inc.

An investigation for investors in LAIX Inc. (NYSE: LAIX) shares over potential securities laws violations by LAIX Inc.

An investigation was announced concerning potential securities laws violations by LAIX Inc. in connection with certain financial statements.

Investors who purchased shares of LAIX Inc. (NYSE: LAIX), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by LAIX Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

China based LAIX Inc., an artificial intelligence (AI) company, provides online English learning services through its Liulishuo mobile app in the People's Republic of China.

LAIX Inc. conducted its initial public offering ("IPO") in September 2018 and sold 5.75 million American depositary shares ("ADS") at $12.50 per share.

LAIX Inc. reported that its annual Total Revenue rose from 165.56 million CNY in 2017 to 637.22 million CNY in 2018, and that its Net Loss increased from 242.76 million CNY in 2017 to 488.06 million CNY in 2018.

On March 12, 2020, LAIX Inc. announced that the Company's unaudited fourth quarter and full year 2019 financial results. For the quarter, LAIX Inc. reported GAAP earnings per share of -$0.60 on revenue of $33.2 million, both of which fell short of consensus estimates.

Shares of LAIX Inc. (NYSE: LAIX) declined to as low as $3.62 per share on March 13, 2020.

Those who purchased shares of LAIX Inc. (NYSE: LAIX) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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