The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Sunlands Technology Group (NYSE: STG) who purchased shares pursuant and/or traceable to Sunlands’ March 2018 initial public stock offering. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
In particular, the Sunlands lawsuit alleges that (1) Sunlands' student enrollment was declining; (2) Sunlands' gross billings were declining; (3) Sunlands' marketing tactics were not as robust as described in the Registration Statement; and (4) as a result, Defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders have until August 26, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
Please fill out the form to learn more