Education Tech Company Hit With Securities Suit After China's Recent 'Crackdown' On After-School Tutoring Businesses
This suit was surfaced by Law.com Radar. Read the complaint here.
July 21, 2022 at 02:08 PM
1 minute read
17 Education & Technology Group, members of its board, BofA Securities, Morgan Stanley and other defendants were hit with a securities class action Tuesday in California Central District Court. The suit, filed by Rosen Law Firm, accuses 17 Education of failing to disclose to investors that the severity of China's recent 'crackdown' on after-school tutoring businesses would lead to the end of the company within a year of its IPO. Counsel have not yet appeared for the defendants. The case is 2:22-cv-04937, Zhang v. 17 Education & Technology Group Inc. et al.
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