Sunlands Technology Group : American Depositary Shares Securities Litigation
On or around 06/30/2020 (Date of last review)
Filing Date: June 27, 2019
According to the Complaint, Sunlands Technology Group is an online post-secondary and professional education company in the PRC.
The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Sunlands's student enrollment was declining; (2) Sunlands's gross billings were declining; (3) Sunlands's marketing tactics were not as robust as described in the Registration Statement; and (4) as a result, Defendants' statements about Sunlands's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On September 13, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on November 15.
On June 30, 2020, Lead Plaintiff voluntarily dismissed three of the individual Defendants.
Company & Securities Information
Defendant: Sunlands Technology Group
Ticker Symbol: STG
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
David Horowitz, et al. v. Sunlands Technology Group, et al.