The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased 17 Education & Technology Group Inc. (NASDAQ: YQ) securities pursuant and/or traceable to documents issued in connection with 17EdTech's December 2020 initial public offering.
According to the 17EdTech lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) 17EdTech’s K-12 Academic AST Services would end less than a year after the Company’s initial public offering; (2) as part of its ongoing regulatory efforts, Chinese authorities would imminently curtail and/or end 17EdTech’s core business; and (3) as a result, defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss in 17EdTech you have until September 19, 2022 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.
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