Archived Investigations

Gaotu Techedu Inc. f/k/a GSX Techedu Inc. (NYSE: GOTU, GSX)

Company Name:aotu Techedu Inc. f/k/a GSX Techedu Inc.

Stock Symbol:NYSE: GOTU, GSX

Court:Eastern District of New York

Class Period Start:03/05/2021

Class Period End (inclusive):07/23/2021

Filing Deadline:The deadline has passed.

January 2, 2023

Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 28, 2023 to file lead plaintiff applications in a securities class action lawsuit against Gaotu Techedu Inc. f/k/a GSX Techedu Inc. (NYSE: GOTU, GSX), if they purchased the Company’s American depository shares (“ADSs”) between March 5, 2021 and July 23, 2021, inclusive (the “Class Period”).

Gaotu and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On July 23, 2021, Media sources reported that China was prohibiting tutoring for profit in core school subjects in order to ease the financial burden on families, which would be likely to have a negative effect on China’s substantial private tutoring industry.

On this news, ADSs of Gaotu fell 63.3% to close at $3.52 per ADS on July 23, 2021.

The case is Zhang v. Gaotu Techedu Inc. f/k/a GSX Techedu Inc., et al., No. 22-cv-07966.

Click here to read the first filed complaint.

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The Hon. Alvin K. Hellerstein entered a Final Judgment approving a $5.65 million settlement for the Class.

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On July 14, 2023, the court certified a class of shareholders in Moradpour v. Velodyne Lidar, Inc., et al., No. 3:21-cv-01486, a securities fraud class action pending in the United States District Court for the Northern District of California.

$5.65M Pareteum Securities Fraud Class Action Preliminarily Approved

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On December 20, 2022 a $5,650,000 class action settlement on behalf of persons who purchased Pareteum securities between December 14, 2017, and October 21, 2019, inclusive was preliminarily approved.

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Topics:

What Information Do We Collect About You?
How Do We Collect Information About You?
How Will We Use Information We Collect About You?
Marketing
Access to Your Information and Correction
Your California Privacy Rights
Cookies
Data Retention and Storage
Changes to Our Privacy Policy
How to Contact Us