NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces that it has filed a class action lawsuit on behalf of purchasers of 17 Education & Technology Group Inc. (NASDAQ: YQ) pursuant to and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with 17EdTech’s December 2020 IPO (the ” IPO”). The lawsuit seeks damages for 17EdTech’s investors under federal securities laws.
To join the 17EdTech class action, go to https://rosenlegal.com/submit-form/?case_id=7395 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for class action information.
According to the lawsuit, the enrollment statement contained false and/or misleading statements and/or failed to state that: (1) defendant 17EdTech’s K-12 academic AST services would end less than one year after the introduction in stock exchange ; (2) as part of its ongoing regulatory efforts, the Chinese authorities would reduce and/or imminently terminate 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 reasonable basis at all relevant times. When the real details entered the market, the lawsuit claims investors suffered damages.
A class action lawsuit has already been filed. If you wish to act as lead plaintiff, you must move the Court no later than September 19, 2022. A lead plaintiff is a representative party acting on behalf of other class members to direct litigation. If you want to join the litigation, go to https://rosenlegal.com/submit-form/?case_id=7395 or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or by email at [email protected] or [email protected]
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY AN ATTORNEY UNLESS YOU RETAIN ONE. YOU CAN RETAIN THE LAWYER OF YOUR CHOICE. YOU CAN ALSO REMAIN AN ABSENT MEMBER OF THE GROUP AND DO NOTHING AT THIS TIME. AN INVESTOR’S ABILITY TO SHARE ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT ON HIS PRINCIPAL APPLICANT SERVICE.
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Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has been ranked in the top 4 every year since 2013. Rosen Law Firm has achieved the highest securities class action settlement ever. against a Chinese company. Rosen Law Firm attorneys are rated and recognized by numerous independent and respected sources. Rosen Law Firm secured hundreds of millions of dollars for investors.
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