NEW
YORK, Sept. 16, 2022 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of 17 Education &
Technology Group Inc. (NASDAQ: YQ).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/17-education-technology-group-inc-loss-submission-form/?id=31775&from=4
This lawsuit is on behalf of persons or entities who purchased
or otherwise acquired publicly traded 17EdTech securities pursuant
and/or traceable to the registration statement and related
prospectus issued in connection with 17EdTech's December 2020 initial public offering.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
September 19, 2022 to petition
the court. Your ability to share in any recovery doesn't require
that you serve as a lead plaintiff.
According to a filed complaint, 17 Education & Technology
Group Inc. issued materially 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 Company's initial
public offering; (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.
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.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law