Los Angeles, California–(Newsfile Corp. – April 15, 2020) – The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of GSX Techedu Inc. (“GSX” or “the Company”) (NYSE: GSX) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. GSX is the subject of a report published by Citron Research on April 14, 2020, titled, “GSX Techedu Inc – The Most Blatant Chinese Stock Fraud since 2011.” According to the report, the Company “is overstating revenue by up to 70% and should immediately halt trading and launch an internal investigation.” Based on this news, the ADS price of GSX fell sharply in intraday trading.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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The Schall Law Firm
Brian Schall, Esq.