NEW YORK, Sept. 14, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in 17 Education & Technology Group Inc. (“17 E&T” or the “Company”) (NASDAQ: YQ). Such investors are encouraged to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation focuses on whether 17 E&T and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
On or about December 4, 2020, 17 E&T completed its IPO, selling 27.4 million American Depositary Shares (“ADS”) at a price of $10.50 per ADS. Then, on June 10, 2022, 17 E&T announced its first quarter financial results, reporting a net loss of $3.9 million and revenue down nearly 50% year-over-year. previous $36.82 million.
On this news, 17 E&T’s stock price fell $1.65 per share, or 21.31%, to close at $2.40 per share on June 10, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. See www.pomlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980
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