Gaotu Techedu Inc. f/k/a GSX Techedu Inc. (NYSE: GOTU, GSX)

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NEW YORK, NY – January 4, 2023 – Wolf Haldenstein Adler Freeman & Herz LLP reminds investors of the upcoming February 28, 2023 deadline to file a lead plaintiff motion in the class action filed in the United States District Court for the Eastern District of New York on behalf of investors who purchased or otherwise acquired shares of Gaotu Techedu Inc. f/k/a GSX TecheduInc. (NYSE: GOTU, GSX) between March 5, 2021 and July 23, 2021, both dates inclusive (the “Class Period”).

All investors who purchased shares and incurred losses are advised to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.

If you have incurred losses, you may, no later than February 28, 2023, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.

On July 23, 2021, Reuters reported that China was barring for-profit tutoring programs, citing a government document that was widely circulated. The regulatory move “threatens to decimate the $120 billion private tutoring industry.”

On this news, Gaotu’s ADS price fell 63.3%, to close at $3.25 per ADS on July 23, 2021, thereby injuring investors.

Then, on November 6, 2021, the Financial Times published an article alleging, that Gaotu leaders had been aware that Beijing was considering stricter regulations on the tutoring industry. The article also reported that a shell company holding shares for Gaotu’s executives sold $119 million worth of shares days after the Chinese president remarked that home-schooling was a “stubborn disease” that was putting too much pressure on Chinese children and their parents.

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 or via e-mail at classmember@whafh.com

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP

Patrick Donovan, Esq.

Gregory Stone, Director of Case and Financial Analysis

Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com

Tel: (800) 575-0735 or (212) 545-4774

Certification and Authorization Pursuant to Federal Securities Laws

The individual or entity listed below requests Wolf Haldenstein Adler Freeman & Herz LLP to file an action or motion for appointment as lead plaintiff and lead counsel under the federal securities laws to recover damages and to seek other relief against Gaotu Techedu Inc. f/k/a GSX Techedu Inc. (NYSE: GOTU, GSX). Wolf Haldenstein Adler Freeman & Herz LLP will not do so until you complete a retainer agreement authorizing us to prosecute the action on a contingent fee basis.
First Name*
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If Representing Corporation, Trust, Partnership or other entity, Name of Entity
If Representing an Entity, Position at Entity
Mailing Address*
City*
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Are you a current or former employee of the company?*
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I, individually or on behalf of the entity I represent ("I"), hereby certify as follows:
1. I have reviewed the complaint and authorize the filing of a lead plaintiff motion or action on my behalf.
2. I did not acquire the security that is the subject of this action at the direction of the Firm or in order to participate in this private action or any other litigation under the federal securities laws.
3. I am willing to serve as a representative party on behalf of a class, including providing testimony at deposition and trial, if necessary.
4. I represent and warrant that I am fully authorized to enter into and execute this certification.
5. I will not accept any payment for serving as a representative party on behalf of the class beyond my pro rata share of any recovery, except such reasonable costs and expenses (including lost wages) directly relating to the representation of the class as ordered or approved by the court.
6. I have made no transaction(s) during the Class Period in the debt or equity securities that are the subject of this action except those set forth below:
Purchases
Type of Security Buy Date (mm/dd/yy) # of Shares Price per Share
Sales
Type of Security Sell Date (mm/dd/yy) # of Shares Price per Share
7. I have not served as a representative party on behalf of a class under the federal security laws during the last three years, except if detailed below.
8. I have not previously provided a certification for this action to any other law firm.
I declare under penalty of perjury, under the laws of the United States, that the information entered is accurate.*
- I Agree
By clicking the button below, I acknowledge that this form is not intended to and does not establish an attorney-client relationship between myself and Wolf Haldenstein Adler Freeman & Herz LLP, and that the submission or receipt of information to the Firm or one of its attorneys via this form, website, e-mail or telephone does not create an attorney-client relationship.*
- I Agree
The Complaint provided to me is incorporated by reference.
Would you like to receive future case and securities updates from the Firm via email?*
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Draw your signature using your mouse.*

Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.
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Date of signing: 02/04/2023

Type of Security	Buy Date (mm/dd/yy)	# of Shares	Price per Share

Type of Security	Sell Date (mm/dd/yy)	# of Shares	Price per Share

Gaotu Techedu Inc. f/k/a GSX Techedu Inc. (NYSE: GOTU, GSX)

Certification and Authorization Pursuant to Federal Securities Laws

I, individually or on behalf of the entity I represent ("I"), hereby certify as follows: