WELLINGTON, Fla., June 09, 2020 (GLOBE NEWSWIRE) -- Barbuto & Johansson, P.A. (“BARJO”) and Of Counsel, Neil Rothstein, Esq. (with over 30 years of Securities Class Action experience, including cases against ENRON and HALLIBURTON) reminds investors that they have until June 16, 2020 to contact the Firm to learn more about the class action filed against GSX TECHEDU, INC. (NYSE: GSX), and appointment of Lead Plaintiff.
The Class Action, ZEQIU WU v. GSX TECHEDU INC., et al., Case No.: 2:20-cv-04457, was filed in the US District Court for the District of New Jersey on behalf of shareholders alleging violations of federal securities laws. The complaint alleges, in part, that GSX overstated its profitability, revenue, student enrollment figures, teacher qualifications, and teacher selection process. Then on April 14, 2020, Citron Research published a report highlighting additional allegations, including that GSX’s “2019 revenue was overstated by 70%” and stating that GSX is the “most blatant Chinese stock fraud since 2011.” Most recently, on May 18, 2020, Muddy Waters Research published a report stating that GSX a “massive loss-making business” and “is a near-total fraud.”
If you purchased shares of GSX anytime after June 6, 2019 and would like to discuss your options, including petitioning the court for a leadership position, you may, without obligation or cost, contact Anthony Barbuto, at (888) 715-2520 or via email at anthony@barjolaw.com; or Neil Rothstein via email at neil@barjolaw.com. Shareholders can also fill out the Class Action Inquiry on the Firm’s website here: https://barjolaw.com/case/gsx.
BARJO follows the principles set forth in the case Berger v. Compaq, 257 F.3d 475 (5th Cir, 2001) which states “[c]lass action lawsuits are intended to serve as a vehicle for capable, committed advocates to pursue the goals of the class members through counsel, not for capable, committed counsel to pursue their own goals through the class members.” BARJO believes strongly that the choice of qualified Lead Plaintiff(s) can have a significant impact on the successful outcome of a case.
Barbuto & Johansson, P.A.
Anthony Barbuto, Esq.
1-888-715-2520
12773 Forest Hill Blvd., 101
Wellington, FL 33414
http://www.barjolaw.com