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New York, New York--(Newsfile Corp. - November 28, 2021) - Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Gaotu Techedu Inc..
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This lawsuit is on behalf of persons and entities that purchased or otherwise acquired shares of Gaotu Techedu Inc. ("Gaotu ") (NYSE: GOTU) between March 22, 2021 and March 29, 2021.
Shareholders interested in representing the class of wronged shareholders have until December 20, 2021 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to the filed complaint: Goldman Sachs Group Inc. and Morgan Stanley sold a significant number of Gaotu shares while aware that Archegos Capital Management would need to fully liquidate its position in Gaotu based on margin call pressures. By selling shares while in possession of this material, non-public information, the defendants avoided billions in losses.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/103070