Deadline on Feb. 28th coming up in Lawsuit for Investors in Gaotu Techedu Inc. (NYSE: GOTU)

A deadline is coming up on February 28, 2023 in the lawsuit filed for certain investors of Gaotu Techedu Inc. (NYSE: GOTU).

Investors who purchased shares of Gaotu Techedu Inc. (NYSE: GOTU) have certain options and there are strict and short deadlines running. Deadline: February 28, 2023. NYSE: GOTU stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Eastern District of New York the plaintiff alleges on behalf of purchasers of Gaotu Techedu Inc. (NYSE: GOTU) common shares between March 22, 2021 and March 29, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 22, 2021 and March 29, 2021, the Defendants Goldman Sachs Group Inc. and Morgan Stanley traded while in possession of material non-public information and that Defendants obtained the material non-public information pursuant to their agreements with Archegos Capital Management's ("Archegos") and as a result of their serving as prime brokers of Archegos, that Defendants knew, recklessly disregarded, or should have known that they owed a fiduciary duty, or obligation arising from a similar relationship of trust and confidence, to Archegos to keep the information confidential, that nevertheless, while in possession of material, non-public adverse information, Defendants collectively sold billions of dollars' worth of Gaotu Techedu Inc. (GOTU) shares.

According to the complaint the plaintiff alleges on behalf of purchasers of Gaotu Techedu Inc. (NYSE: GOTU) common shares between March 5, 2021 and July 23, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 5, 2021 and July 23, 2021, the defendants made false and/or misleading statements and/or failed to disclose, among other things, that: (1) China was barring tutoring for profit in core school subjects and the 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.

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.

This release was published on openPR.