WELLINGTON, Fla., June 12, 2020 /PRNewswire/ -- Barbuto &
Johansson, P.A. ("BARJO" or the "Firm") and Of Counsel,
Neil Rothstein, Esq. (with over 30
years of Securities Class Action experience, including cases
against ENRON and HALLIBURTON) remind investors that they have
until June 16, 2020 to contact
the Firm to learn more about the class action filed against GSX
TECHEDU, INC. (NYSE: GSX), and appointment of Lead Plaintiff.
The Class Action, ZEQIU WU v.
GSX TECHEDU INC., et al., Case No.: 2:20-cv-04457, was filed in
the US District Court for the District of New Jersey on behalf of shareholders alleging
violations of federal securities laws. The complaint alleges,
in part, that GSX overstated its profitability, revenue, student
enrollment figures, teacher qualifications, and teacher selection
process. Then on April 14,
2020, Citron Research published a report highlighting
additional allegations, including that GSX's "2019 revenue was
overstated by 70%" and stating that GSX is the "most blatant
Chinese stock fraud since 2011." On May 18, 2020, Muddy Waters Research
published a report stating that GSX is a "massive loss-making
business" and "is a near-total fraud." Most recently, on
June 2, 2020, Grizzly Research echoed
Muddy Waters' investigation when it announced that it believes
most of GSX's students are fake, and that student enrollment and
revenue are overstated by 900%.
If you purchased shares of GSX anytime after June 6, 2019 and would like to discuss your
options, including petitioning the court for a leadership position,
you may, without obligation or cost, contact Anthony Barbuto, at (888) 715-2520 or via email
at anthony@barjolaw.com; or Neil
Rothstein via email at neil@barjolaw.com.
Shareholders who have suffered substantial losses are encouraged
to contact the Firm. BARJO believes strongly that the
choice of a qualified lead plaintiff can have a significant impact
on the successful outcome of a case.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and rules of
ethics.
Barbuto & Johansson, P.A.
Anthony Barbuto, Esq.
1-888-715-2520
12773 Forest Hill Blvd., 101
Wellington, FL 33414
http://www.barjolaw.com
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