A lawsuit was filed on behalf of investors in Sunlands Technology Group (NYSE: STG) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 08/27/2019 -- An investor, who purchased shares of Sunlands Technology Group (NYSE: STG), filed a lawsuit over alleged violations of Federal Securities Laws by Sunlands Technology Group in connection with Sunlands's March 2018 initial public stock offering.
Investors who purchased a shares of Sunlands Technology Group (NYSE: STG) have certain options and for certain investors are short and strict deadlines running. Deadline: August 26, 2019. NYSE: STG investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Sunlands Technology Group sold 13million shares at $11.50 in its initial public offering ("IPO"). On May 28, 2019, Sunlands Technology Group announced its financial and operating results for the first quarter of 2019, which included a net loss of $16.8 million, and advised investors that the Company's "new student enrollments declined, and gross billings were down 28.6% year-over-year."
The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that Sunlands's student enrollment was declining, that Sunlands's gross billings were declining, that Sunlands's marketing tactics were not as robust as described in the Registration Statement, and that as a result, defendants' statements about Sunlands's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased shares of Sunlands Technology Group (NYSE: STG) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.