Published: Aug. 25, 2022 at 2:45 AM MST
NEW YORK, Aug. 25, 2022 /PRNewswire/ — Levi & Korsinsky, LLP notifies investors in 17 Education & Technology Group Inc. (“17EdTech” or the “Company”) (NASDAQ: YQ) of a class action securities lawsuit.
CLASS DEFINITIONS: The lawsuit seeks to recover losses on behalf of 17EdTech investors who were adversely affected by alleged securities fraud. 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. Follow the link below to get more information and be contacted by a member of our team:
YQ investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that the defendants made false statements and/or concealed 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, the 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.
WHAT’S NEXT? If you suffered a loss in 17EdTech during the relevant time frame, 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.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
View original content to download multimedia:
SOURCE Levi & Korsinsky, LLP
The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they inevitably state or reflect those of Gray Media Group, Inc.