Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Sunlands Technology Group (STG)
NEW YORK, NY / ACCESSWIRE / June 11, 2019 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Sunlands Technology Group ("Sunlands" or the "Company") (STG). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/stg.
The investigation concerns whether Sunlands and certain of its officers and/or directors have violated federal securities laws.
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% year-over-year." 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.
If you are aware of any facts relating to this investigation, or purchased Sunlands shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/stg. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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