NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces it is
investigating potential securities claims on behalf of shareholders of
Sunlands Technology Group (NYSE: STG) resulting from allegations that
Sunlands may have issued materially misleading business information to
the investing public.
On March 23, 2018, Sunlands completed its Initial Public Offering
(“IPO”), issuing 13 million American depositary receipts (“ADRs”) priced
at $11.50 per share. On May 28, 2019, Sunlands 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%
Following this news, Sunlands’ ADR price fell $0.19 per share, or 6.46%,
to close at $2.75 per share on May 29, 2019, representing a total
decline of $8.75 per share, or 76.09%, from the IPO price.
Rosen Law Firm is preparing a class action lawsuit to recover losses
suffered by Sunlands investors. If you purchased shares of Sunlands
please visit the firm’s website at http://www.rosenlegal.com/cases-register-1598.html
to join the class action. You may also contact Phillip Kim Rosen Law
Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org
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Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class
Action Services for number of securities class action settlements in
2017. The firm has been ranked in the top 3 each year since 2013. Rosen
Law Firm has secured hundreds of millions of dollars for investors.
Attorney advertising. Prior results do not guarantee future outcomes.
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
Madison Avenue, 34th Floor
New York, NY 10016
Toll Free: (866) 767-3653
Fax: (212) 202-3827