GSX DOWN ON CITRON REPORT: Nationally Ranked Litigation Firm Labaton Sucharow Strongly Encourages Investors with Losses to Co...
April 16 2020 - 10:00AM
Business Wire
Labaton Sucharow LLP, a leading and award winning investor
rights law firm, announces it is developing a proprietary
investigation concerning potential securities claims on behalf of
shareholders of GSX Techedu Inc (Ticker: GSX) resulting from
allegations that GSX may have issued materially misleading business
information to the investing public.
GSX Techedu Inc. is a technology-driven education company, and
provides online K-12 after-school tutoring services in the People’s
Republic of China. Its K-12 after-school tutoring courses cover
various K-12 academic subjects, including mathematics, English,
Chinese, physics, chemistry, biology, history, geography, and
political science. The company also provides English courses for
children in kindergarten; and courses that help children in grade
one through grade seven.
On April 14, Citron Research published a report saying “GSX is
overstating revenue by up to 70% and should immediately halt
trading and launch an internal investigation.” Citron also noted,
"They are not even in a 'fake it till you make it' situation. Their
forward growth trajectory is as foolish and fraudulent as their
previous financials.”
When asked to comment, GSX Techedu said the company is in a
quiet period ahead of its quarterly report. GSX has not announced a
date yet.
On this news, GSX stock is falling 3.5% pre-market.
If you are a ADS, option or derivative holder that suffered
losses in GSX, and wish to participate, learn more, or discuss the
issues surrounding the investigation, please contact David J.
Schwartz using the toll free number (800) 321-0476 or via email at
recover@labaton.com.
About the Firm
Labaton Sucharow LLP is one of the world’s leading complex
litigation firms representing clients in securities, antitrust,
corporate governance and shareholder rights, and consumer
cybersecurity and data privacy litigation. Labaton Sucharow has
been recognized for its excellence by the courts and peers, and it
is consistently ranked in leading industry publications. Offices
are located in New York, NY, Wilmington, DE, and Washington, D.C.
More information about Labaton Sucharow is available at
http://www.labaton.com.
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David J. Schwartz (800) 321-0476 dschwartz@labaton.com or
recover@labaton.com
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