The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased Gaotu Techedu Inc. F/K/A Gsx Techedu Inc. (NYSE: GOTU) American depository shares between March 5, 2021 and July 23, 2021.
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.
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