17 Education & Technology Group Inc. (NASDAQ: YQ)
NEW YORK, NY – July 25, 2022 – Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of investors who purchased or otherwise acquired the American Depositary Receipts of 17 Education & Technology Group Inc. (NASDAQ: YQ) pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with 17EdTech’s December 2020 initial public offering (the “IPO”).
All investors who purchased the ADR’s of 17 Education & Technology Group Inc. and incurred losses are urged to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774.
If you have incurred losses in the ADR’s of 17 Education & Technology Group Inc., you may, no later than September 19, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the ADR’s of 17 Education & Technology Group Inc.
According to the lawsuit, the Registration Statement featured false and/or misleading statements and/or failed to disclose that:
- Defendant 17EdTech’s K-12 Academic AST Services would end less than a year after the IPO;
- as part of its ongoing regulatory efforts, Chinese authorities would imminently curtail and/or end 17EdTech’s core business; and
- 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.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at email@example.com, or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Tel: (800) 575-0735 or (212) 545-4774
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Certification and Authorization Pursuant to Federal Securities Laws
Date of signing: 08/17/2022