Sunlands Technology Group (NYSE: STG) Investor Securities Class Action Lawsuit 06/27/2019

If you purchased a shares of Sunlands Technology Group (NYSE: STG), you have certain options and for certain investors are short and strict deadlines running. Deadline: August 26, 2019. Sunlands Technology Group (NYSE: STG investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Sunlands Technology Group
Case Name: 
Sunlands Technology Group Shareholder Class Action Lawsuit 06/27/2019
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: STG
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
06/27/2019
Court of Filing: 
U.S. District Court for the Eastern District of New York
Deadline To File for Lead: 
08/26/2019
Summary: 

An investor in shares of Sunlands Technology Group (NYSE: STG) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Sunlands Technology Group in connection with certain allegedly false and misleading statements issued in connection with Sunlands’s March 2018 initial public stock offering.

Sunlands Technology Group sold 13million shares at $11.50 in its initial public offering (“IPO”). On May 28, 2019, Sunlands Technology Group announced its financial and operating results for the first quarter of 2019, which included a net loss of $16.8 million, and advised investors that the Company's "new student enrollments declined, and gross billings were down 28.6% year-over-year."

According to the complaint the plaintiff alleges on behalf of purchasers of Sunlands Technology Group (NYSE: STG) common shares that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that Sunlands’s student enrollment was declining, that Sunlands’s gross billings were declining, that Sunlands’s marketing tactics were not as robust as described in the Registration Statement, and that 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.