Levi & Korsinsky, LLP announces that a GOTU class action lawsuit has been filed on behalf of investors who purchased Gaotu Techedu Inc. (GOTU) securities between March 22, 2021 and March 29, 2021. For more on the GOTU Lawsuit please contact us today.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: Goldman Sachs and Morgan Stanley sold a large amount of Gaotu shares during the Class Period while in possession of material, non-public information about Archegos and its need to fully liquidate its position in the Company because of margin call pressure. As a result of these sales, Defendants Goldman Sachs and Morgan Stanley avoided billions in losses combined.
If you suffered a loss in you have until December 20, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.