Le Lézard
Classified in: Business
Subjects: ATY, FVT

RM LAW Announces Class Action Lawsuit Against 2U, Inc.


BERWYN, Pa., Aug. 15, 2019 /PRNewswire/ -- RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased 2U, Inc. ("2U" or the "Company") (NASDAQ: TWOU) common stock February 26, 2018 and July 30, 2019, inclusive (the "Class Period").

2U shareholders may, no later than October 7, 2019, move the Court for appointment as a lead plaintiff of the Class.  If you purchased shares of 2U and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.

On May 7, 2019, the Company lowered its revenue guidance for fiscal 2019 to a range of $534 to $537 million, from prior guidance range of $546.6 to $550.8 million, due to declining average enrollments in some of its largest graduate programs.

On this news, the Company's share price fell $15.16, or nearly 26%, to close at $44.77 per share on May 8, 2019, on unusually heavy trading volume.

Then on July 30, 2019, after the market closed, the Company reported a larger-than-expected loss for second quarter 2019. The Company also revised its guidance for fiscal 2019, expecting a net loss between $157.5 and $151.5 million, compared to prior net loss guidance between $79.0 and $77.2 million, because it would "moderate [its] grad program launch cadence."

On this news, the Company's share price fell $23.70, or nearly 65%, to close at $12.80 per share on July 31, 2019, on unusually heavy trading volume.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company faced increasing competition in online education and particularly regarding graduate programs; (2) that the Company faced certain program-specific issues that negatively impacted its performance; (3) that, as a result, the Company's business model was not sustainable; (4) that the Company would slow its program launches; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you are a member of the class, you may, no later than October 7, 2019, request that the Court appoint you as lead plaintiff of the class.  A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Under certain circumstances, one or more class members may together serve as "lead plaintiff."  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.

For more information regarding this, please contact RM LAW, P.C.  (Richard A. Maniskas, Esquire) toll-free at (844) 291-9299 or by email at rm@maniskas.com or click here.   For more information about class action cases in general or to learn more about RM LAW, P.C. please visit our website by clicking here

RM LAW, P.C. is a national shareholder litigation firm.  RM LAW, P.C. is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

CONTACT: 

RM LAW, P.C.


Richard A. Maniskas, Esquire


1055 Westlakes Dr., Ste. 300


Berwyn, PA 19312


484-324-6800


844-291-9299


rm@maniskas.com

 

SOURCE RM LAW, P.C.


These press releases may also interest you

at 16:10
Anthem, Inc. will release fourth quarter 2019 financial results on January 29, 2020, at 6:00 a.m. Eastern Time ("EST"). Management will review these results and its outlook during a conference call at 8:30 a.m. EST that same morning. The conference...

at 16:10
TPG Specialty Lending, Inc. ("TSLX" or "the Company") announced today that it will release its financial results for the fourth quarter ended December 31, 2019 on Wednesday, February 19, 2020, after the market closes. TSLX invites all interested...

at 16:10
QAD Inc. , a leading provider of enterprise software and services designed for global manufacturing companies, will announce financial results for its fiscal year 2020 fourth quarter after the close of regular trading hours on Wednesday, March 18,...

at 16:10
Forsys Metals Corp. (NSX: FSY) ("Forsys" or the "Company") is pleased to announce that it has received a commitment from Leonardo Global Trading Ltd. ("Leo"), the Company's largest shareholder, to raise C$1,000,000 in gross proceeds  by way of a...

at 16:08
The Virtus InfraCap U.S. Preferred Stock ETF has declared a monthly distribution of $0.55 per share.  The distribution will be paid January 29, 2020 to shareholders of record as of the close of business January 22, 2020. PFFA Cash Distribution:...

at 16:08
The InfraCap MLP ETF (the "Fund") has declared a monthly distribution of $0.06 per share ($0.72 per share on an annualized basis).  The monthly distribution is reduced by $0.02 per share from the prior rate of $0.08 per share ($0.96 per share on an...



News published on 15 august 2019 at 18:30 and distributed by: