|Company name||Sunlands Technology Group|
|Class period||3/20/2018 to 6/27/2019 and/or pursuant to or in conjunction to the Initial Public Offering (“IPO”) on 3/23/2018.|
|Court||Eastern District of New York|
Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Sunlands Technology Group (NYSE: STG) and Encourages STG Investors to Contact the Firm
NEW YORK, August 21, 2019 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all persons or entities who purchased or otherwise acquired Sunlands Technology Group (NYSE: STG) securities between March 20, 2018 and June 27, 2019 (the “Class Period”) and/or pursuant to or in conjunction to the Initial Public Offering (“IPO”) on 3/23/2018. Investors have until August 26, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint filed on 6/27/2019 alleges that throughout the Class Period defendants 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.
If you purchased Sunlands securities during the Class Period and/or pursuant to the IPO or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out the form below. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.