Archived Investigations

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

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:The deadline has passed.

January 2, 2023

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.

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.

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December 23, 2024

On December 18, 2024, a Final Judgment of $189 million settlement of the Class’s claims in Dicker v. TuSimple Holdings, Inc. et al., was approved.

$189M TuSimple Securities Fraud Class Action Preliminarily Approved

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The Hon. Roger T. Benitez preliminarily approved a $189,000,000 class action settlement in the TuSimple securities class action.

Final Approval of $27.5 Million Settlement Granted in Velodyne Securities Litigation

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The Hon. Susan Illston entered a Final Judgment approving a $27.5 million settlement of the Class’s claims in the Velodyne Lidar litigation.

Final Approval of $7.75 Million Settlement Granted in GW Pharma Securities Litigation

April 4, 2024

The Hon. Cynthia Bashant entered a Final Judgment approving a $7.75 million settlement in a Class action for breach of federal securities laws relating to a proposed merger of pharmaceutical company GW Pharmaceuticals.

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Topics:

What Information Do We Collect About You?
How Do We Collect Information About You?
How Will We Use Information We Collect About You?
Marketing
Access to Your Information and Correction
Your California Privacy Rights
Cookies
Data Retention and Storage
Changes to Our Privacy Policy
How to Contact Us