The law firm of Timothy L. Miles reminds investors of a lawsuit against 17 Education & Technology Group Inc.

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Timothy L. Miles, Nationally Recognized Shareholder Rights Attorney

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Timothy L. Miles, Nationally Recognized Shareholder Rights Attorney

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Timothy L. Miles, Nationally Recognized Shareholder Rights Attorney

Timothy L. Miles, Nationally Recognized Shareholder Rights Attorney

Investor who suffered losses in 17 education and technology action cases 17 education and technology class action lawsuits

17 Education & Technology Group Inc. (NASDAQ:YQ)

17 Education and Technology Stakeholders Urged to Contact Us for a Free Case Evaluation »

—Timothy L. Miles

NASHVILLE, TENNESSEE, USA, Sept. 9, 2022 /EINPresswire.com/ — The law firm of Timothy L. Miles, which has led the fight to protect shareholder rights for more than 20 years, reminds investors that A purchaser of 17 Education & Technology Group Inc. (NASDAQ: YQ), which suffered losses in 17 Education & Technology, has filed a class action lawsuit against the Company for alleged violations of the Securities Exchange Act of 1933. The 17 Education & Technology class action seeks to represent purchasers or acquirers of publicly traded securities of 17 Education & Technology pursuant to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in 17 Education & Technology’s initial public offering on December 4, 2020 (the “IPO”). Class Action 17 Education & Technology is titled Zhang v. 17 Education & Technology Group Inc., No. 22-cv-04937 (CDCal.). Lead plaintiff’s motions for Class Action 17 Education & Technology must be filed with the court on or before September 19, 2022.

If you have suffered losses in 7 Education & Technology stock or would like additional information, please visit us here.

Allegations in the 17th class action in education and technology

17 Education & Technology provided academic subject-related tutoring services to students in kindergarten through senior high school (“K-12 Academic AST Services”) in the People’s Republic of China (“PRC”). On December 4, 2020, 17 Education & Technology held its IPO, issuing approximately 27,400,000 American Depositary Shares (“ADSs”) to the investing public at $10.50 per ADS, pursuant to the registration statement.

PRC authorities have been publicly targeting private education companies and tutoring companies, especially Western-funded ones, for public reform since at least February 2019. , that they would reform the tutoring sector in which 17 Education & Technology operated. In doing so, for example, the Central Commission for Discipline Inspection, the Chinese Communist Party’s highest internal enforcement division, and the PRC’s National Supervisory Commission published an article warning against abuse reforms. by private education companies. In light of the reforms proposed, discussed and adopted from China’s Education Modernization Plan 2018-2022, several other Chinese education technology companies, including VIPKid, Huohua Siwei, Zuoyebang and Yuanfudao, have reportedly dropped out or postponed public offering plans.

The 17 Education & Technology Group class action lawsuit alleges that the IPO’s registration statement was false and/or misleading and/or failed to disclose that: (i) 17 Education & Technology Group’s K-12 academic AST services Technology would end less than a year after the IPO; and (ii) as part of its ongoing regulatory efforts, the Chinese authorities would reduce and/or imminently terminate 17 Education & Technology’s core business.

On July 23, 2021, just months after the IPO, Chinese authorities officially revealed to the public the maintenance of regulations that prohibited after-school tutoring companies that teach the school curriculum from making a profit, raising capital or become public. These measures officially ended any potential growth of the for-profit tutoring sector in the PRC.

As of July 13, 2022, the price of 17 Education & Technology ADS has fallen approximately 85% from the IPO price of $10.50 as investors suffered losses in 17 Education & Technology.

17 shareholders from the education and technology sector invited to contact the company

If you have purchased 17 Education & Technology titles, have information, or have questions regarding this announcement or your rights or interests in these matters, please click here for more information or contact Timothy L. Miles, Esquire, at 615-587-7384, toll free at 855-846-6529, or email [email protected] for a free case evaluation. If requesting by e-mail, please include your mailing address, telephone number and number of shares held.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as the highest-ranked lawyer in 2022 and the highest-rated litigator in 2022. Mr. Miles also maintains Martindale-Hubbell’s AV Preeminent rating.®, their highest rating for legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb lawyer rated by Avvo, recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a distinguished lawyer. , Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019).

Awards: Highest rated litigator by Martindale-Hubbell® and ALM (2019); 2019 Elite Lawyer of The South by Martindale-Hubbell® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); A V® Preeminent™ Ranking by Martindale-Hubble® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2017 and 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Capacity (Martindale-Hubble® 2015); Lifetime Achievement Award from Premier Lawyers of America (2019); Superb Rated Lawyer (Avvo); Avvo Highest Rated Lawyer for (Avvo 2017-2020). Mr. Miles is the author of numerous publications advocating stock ownership, including the most recent: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Important Benefits To Investors (Timothy L. Miles, December 3, 2019).

Contact:
Timothy L. Miles, Esq.
Law Firms of Timothy L. Miles
109 Summit Ridge CT.
Nashville, Tennessee 37215
Phone: (855-846-6529)
Email: [email protected] Website: www.classactionlawyertn.com
Timothy Miles
Law Firms of Timothy L. Miles
8558466529
write to us here
Visit us on social media:
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Timothy L. Miles
Law Firms of Timothy L. Miles
+1 855-846-6529
write to us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other

THE LAW OFFICES OF TIMOTHY L. MILES; AWARDS, HONOR AND RECOGNITIONS

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