Levi & Korsinsky, LLP announces that a GOTU class action lawsuit has been filed on behalf of investors who purchased Gaotu Techedu Inc. F/K/A Gsx Techedu Inc. (GOTU) securities between March 5, 2021, and July 23, 2021, For more on the GOTU Lawsuit please contact us today.
According to the Gaotu lawsuit, throughout the Class Period, defendants made 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.
If you suffered a loss in Gaotu you have until February 28, 2023, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171