Security Investigation

Gaotu Techedu Inc. f/k/a GSX Techedu Inc. (NYSE: GOTU, GSX)

30 Days left to seek lead plaintiff status.

Company Name:aotu Techedu Inc. f/k/a GSX Techedu Inc.
Stock Symbol:NYSE: GOTU, GSX
Court:Eastern District of New York
Class Period Start:03/05/2021
Class Period End (inclusive):07/23/2021
Filing Deadline:02/28/2023

Contact a Lawyer Now

(877) 515-1850

Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 28, 2023 to file lead plaintiff applications in a securities class action lawsuit against Gaotu Techedu Inc. f/k/a GSX Techedu Inc. (NYSE: GOTU, GSX), if they purchased the Company’s American depository shares (“ADSs”) between March 5, 2021 and July 23, 2021, inclusive (the “Class Period”).  

Gaotu and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On July 23, 2021, Media sources reported that China was prohibiting tutoring for profit in core school subjects in order to ease the financial burden on families, which would be likely to have a negative effect on China’s substantial private tutoring industry.

On this news, ADSs of Gaotu fell 63.3% to close at $3.52 per ADS on July 23, 2021.

If you purchased ADSs of Gaotu and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or fill out the form on this page.

The case is Zhang v. Gaotu Techedu Inc. f/k/a GSX Techedu Inc., et al., No. 22-cv-07966.

Click here to read the first filed complaint.