The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Goldman Sachs Group Inc. and Morgan Stanley on behalf of shareholders in Gaotu Techedu Inc. f/k/a GSX Techedu Inc. for violations of the securities laws.
Investors who purchased the Company’s securities between March 22, 2021 and March 29, 2021, inclusive (the ”Class Period”), are encouraged to contact the firm before December 20, 2021.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, Goldman Sachs Group Inc. and Morgan Stanley sold a large number of GSX shares while in possession of material non-public information. The defendants knew that Archegos Capital Management would need to fully liquidate its position in GSX based on margin call pressures. The defendants avoided billions in losses by selling the Company’s shares while in possession of this information. When the market learned the truth about GSX, investors suffered damages.
The Schall Law Firm
Brian Schall, Esq.,