An investigation for investors in LAIX Inc. (NYSE: LAIX) shares over potential securities laws violations by LAIX Inc. was announced.
San Diego, CA -- (SBWIRE) -- 03/24/2020 -- LAIX Inc is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of LAIX Inc. (NYSE: LAIX), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by LAIX Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based LAIX Inc., an artificial intelligence (AI) company, provides online English learning services through its Liulishuo mobile app in the People's Republic of China.
LAIX Inc. conducted its initial public offering ("IPO") in September 2018 and sold 5.75 million American depositary shares ("ADS") at $12.50 per share.
LAIX Inc. reported that its annual Total Revenue rose from 165.56 million CNY in 2017 to 637.22 million CNY in 2018, and that its Net Loss increased from 242.76 million CNY in 2017 to 488.06 million CNY in 2018.
On March 12, 2020, LAIX Inc. announced that the Company's unaudited fourth quarter and full year 2019 financial results. For the quarter, LAIX Inc. reported GAAP earnings per share of -$0.60 on revenue of $33.2 million, both of which fell short of consensus estimates.
Shares of LAIX Inc. (NYSE: LAIX) declined to as low as $2.92 per share on March 16, 2020.
Those who purchased shares of LAIX Inc. (NYSE: LAIX) have certain options and should contact the Shareholders Foundation.
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