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GAOTU TECHEDU INC.

(GOTU)
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Shareholder Alert: Robbins LLP Announces It Is Investigating GSX Techedu Inc. (GSX) for Misleading Shareholders

06/04/2020 | 03:07pm EDT

Shareholder rights law firm Robbins LLP announces that it is investigating GSX Techedu Inc. (NYSE: GSX) for alleged violations of the Securities Exchange Act of 1934 and whether the Company's officers and directors breached their fiduciary duties to shareholders. GSX is a technology-driven education company that provides online K-12 after-school tutoring services in the People's Republic of China.

If you suffered a loss as a result of GSX's misconduct, click here.

GSX Techedu Inc. (GSX) Accused of Overstating Its Profitability

In June 2019, GSX touted its rapid growth in student enrollment and profitability and stated that the Company "pride[s] [itself] of [its] rigorous and systematic teacher selection and coaching process" in its initial public offering documents. However, on February 25, 2020, Grizzly Research LLC issued a report alleging GSX "ha[d] been drastically overstating its profitability in its US public filings, especially for 2018" as well as indications that GSX used fake student enrollment mechanisms to boost student count and did not hire teachers using the high-quality recruitment they had touted. Finally, on April 14, 2020, a report published by Citron Research further alleged that GSX's "2019 revenue was overstated by 70%" and that GSX's "filings are riddled with suspicious transactions." Following these disclosures, GSX's stock price had a total decline of 31% to close at $31.20 per share on April 14, 2020.

GSX Techedu Inc. (GSX) Shareholders Have Legal Options

Contact us to learn more:
Leo Kandinov
(800) 350-6003
lkandinov@robbinsllp.com
Shareholder Information Form

Want to be notified if a class action against GSX settles? Want to receive free alerts about companies engaged in wrongdoing? Sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.


ę Business Wire 2020
All news about GAOTU TECHEDU INC.
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05/26GSX TECHEDUá : First Quarter 2021 Financial Results
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More news
Financials
Sales 2021 10 446 M 1 619 M 1 619 M
Net income 2021 -2 103 M -326 M -326 M
Net cash 2021 3 802 M 589 M 589 M
P/E ratio 2021 -8,19x
Yield 2021 -
Capitalization 21 423 M 3 320 M 3 320 M
EV / Sales 2021 1,69x
EV / Sales 2022 1,09x
Nbr of Employees 22 570
Free-Float 92,8%
Chart GAOTU TECHEDU INC.
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Gaotu Techedu Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GAOTU TECHEDU INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Average target price 240,40 CNY
Last Close Price 83,82 CNY
Spread / Highest target 640%
Spread / Average Target 187%
Spread / Lowest Target -8,39%
EPS Revisions
Managers and Directors
NameTitle
Xiang Dong Chen Chairman & Chief Executive Officer
Nan Shen Chief Financial Officer
Fan Xin Independent Director
Yiming Hu Independent Director
Ming Liao Independent Director
Sector and Competitors