The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Taskus, Inc. (NASDAQ: TASK) who purchased shares between June 11, 2021 and January 19, 2022. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Taskus lawsuit alleges that (1) TaskUs was experiencing severe financial strain and business challenges, particularly with its most important customer, Facebook; (2) the Content Security market was smaller than defendants represented and defendants’ representations were based on outdated market data; (3) TaskUs improperly recognized revenue from certain key contracts; (4) defendants overstated the size of TaskUs’ workforce as well as employee retention rates, and understated attrition rates; and (5) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.
Shareholders have until April 25, 2022 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.
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