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Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of 17 Education & Technology Group Inc.
This lawsuit is on behalf of persons or entities who purchased or otherwise acquired publicly traded 17EdTech securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with 17EdTech’s December 2020 initial public offering.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until September 19, 2022 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
According to a filed complaint, 17 Education & Technology Group Inc. issued materially 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.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
