17 Education & Technology Group Inc. (YQ)
Class Action & Lead Plaintiff Deadline: September 19, 2022
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against 17 Education & Technology Group Inc. (“17EdTech” or the “Company”) (NASDAQ: YQ) and certain of its officers, on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired 17EdTech securities pursuant and/or traceable to the registration statement and related prospectus (collectively, the "Registration Statement") issued in connection with 17EdTech December 2020 initial public offering (the "IPO" or "Offering"). Such investors are encouraged to join this case.
This class action seeks to recover damages against Defendants for alleged violations of the Securities Act of 1933 (the “Securities Act”).
The Complaint alleges that the Registration Statement featured 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 IPO; (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. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. You can review a copy of the Complaintand sign the certification form or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in 17EdTech 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.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.