NEW YORK, July 13, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of 17 Education & Technology Group Inc. YQ resulting from allegations that 17EdTech may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased 17EdTech securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=7395 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
WHAT IS THIS ABOUT: In December 2020, 17EdTech conducted its initial public offering, selling 27.4 million American Depositary Shares (“ADSs”) at $10.50 per ADS.
Then, on June 10, 2022, 17EdTech announced its first quarter financial results, reporting a net loss of $3.9 million alongside a nearly 50% fall in revenue from the prior year to $36.82 million.
On this news, 17EdTech’s stock price fell $1.65 per share, or 21%, to close at $2.40 per share on June 10, 2022, damaging investors.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
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