Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
GOTU.US
id: 640, Created by Stan Vick, Scout
Gaotu Techedu Inc (GSX) Manipulation Case
What do I get by joining?
- You will get case updates and receive a payout in case of success
- If you would like to actively participate, you will be connected to the attorney
- No, you do not pay anything out of your pocket neither to us nor to attorney
On May 18, 2020, GSX Techedu was accused by independent short-seller Muddy Waters of manipulating its financial accounts. The MW report stated that at least ~70% of GSX's users were fake.
On this news, the $GSX price dropped, and many market participants reasonably made the decision to open short positions at fundamentally inflated price levels.
Market participants suspect that following the dramatic increase in short interest GSX Techedu allegedly conspired with some big market players, including the notorious Archegos, to manipulate prices causing a short squeeze.
The short squeeze caused $GSX share price to jump 200% by Autumn 2020, despite continued accusations of accounting shenanigans and related lawsuits against the Company.
Taking all facts into account, Short Seller Market Participants have reasons to suspect $GSX, its officers, and certain hedge funds of conspiracy for market manipulation.
Alleged Offence
Price manipulation,
Insider Trading
Suspected Party
Directors,
Management,
Shareholder,
Influencer,
Investment Bank,
Service Provider,
Research Entity,
Hedge Fund
Security Type
Stocks
Trade Direction
Short
Shock Event Date
18 May 2020