Press release
Investigation announced for Investors in shares of 17 Education & Technology Group Inc. (NASDAQ: YQ)
An investigation for investors in 17 Education & Technology Group Inc. (NASDAQ: YQ) shares.
Investors who purchased shares of 17 Education & Technology Group Inc. (NASDAQ: YQ), 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 certain statements by 17 Education & Technology Group Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based 17 Education & Technology Group Inc., an education technology company, provides education and education technology services in the People's Republic of China. On or around December 4, 2020, 17 Education & Technology Group Inc. conducted its initial public offering, selling 27.4 million American Depositary Shares ("ADSs") priced at $10.50 per ADS.
17 Education & Technology Group Inc. reported that its annual Total Revenue rose from over 1.29 billion CNY in 2020 to over 2.18 billion CNY in 2021, and that its Net Loss increased from over 1.33 billion CNY in 2020 to over 1.47 billion CNY in 2021.
Then, on June 10, 2022, 17 Education & Technology Group Inc. announced its first quarter financial results, reporting a net loss of $3.9 million alongside a nearly 50% fall in revenue from the prior year to $36.82 million.
Shares of 17 Education & Technology Group Inc. (NASDAQ: YQ) declined from $3.74 per share on June 8, 2022, to as low as $1.82 per share on June 16, 2022.
Those who purchased shares of 17 Education & Technology Group Inc. (NASDAQ: YQ) have certain options and should contact the Shareholders Foundation.
Contact:
Christopher Clausen
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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