NEW YORK, July 07, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Sunlands Technology Group (NYSE: STG) pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with Sunlands’s March 2018 initial public stock offering (the “IPO” or the “Offering”). The lawsuit seeks to recover damages for Sunlands investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than August 26, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=sunlands-technology-group&id=1924or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Sunlands’s student enrollment was declining; (2) Sunlands’s gross billings were declining; (3) Sunlands’s marketing tactics were not as robust as described in the Registration Statement; and (4) 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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