Press release
Investigation announced for Investors in shares of Gaotu Techedu Inc. (NYSE: GOTU)
An investigation for investors in Gaotu Techedu Inc. (NYSE: GOTU) shares over potential securities laws violations.
Investors who purchased shares of Gaotu Techedu Inc. (NYSE: GOTU), 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 possible claims on behalf of purchasers of the securities of Gaotu Techedu Inc. (NYSE: GOTU) concerning whether a series of statements by Gaotu Techedu Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based Gaotu Techedu Inc., a technology-driven education company, provides online K-12 after-school tutoring services in the People's Republic of China. Gaotu Techedu Inc. reported that its annual Total Revenue rose from over 2.11 billion CNY in 2019 to over 7.12 billion CNY in 2020, and that its Net Income of 226.63 million CNY in 2019 turned into a Net Loss of over 1.39 billion CNY in 2020.
On July 25, 2021, China released new regulations that ban companies that teach school curriculums from making profits, raising capital or going public.
Shares of Gaotu Techedu Inc. (NYSE: GOTU) declined from $142.7 per share share in January 2021 to as low as $2.25 per share on August 23, 2021.
Those who purchased shares of Gaotu Techedu Inc. (NYSE: GOTU) have certain options and should contact the Shareholders Foundation.
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 lawsuits, 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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