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Sunlands Technology Group (STG) $6.2M Shareholder Settlement

Claim deadline for this case already passed by, but we can still try and file for compensation for you
E.D. New York
Court
1:19-CV-03744
Case number
23 Mar 2018
Class period Start
18 Sept 2018
Class period End
28 Aug 2023
Claim deadline

Sunlands Technology Group (STG) settles $6.2 million with investors.


The Complaint alleged that the Company and Accountables made false and/or misleading statements and/or failed to disclose that:

  1. Sunlands's student enrollment was declining;
  2. Sunlands' gross billings were declining;
  3. Sunlands's marketing tactics were not as robust as described in the Registration Statement; and
  4. as a result, Defendants' statements about Sunlands's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Long
Payout per Share
0.161
Filing date
27 June 2019
Plaintiffs
David B. Horowitz
Attorneys
The Rosen Law Firm, P.A. (New York, NY)
Defendants
Tongbo Liu, Yipeng Li, Jianhong Yin, Lu Lu, Michael Minhong Yu, Yang Wang
Judge
Hon. Frederic Block
Administrator
Strategic Claims Services
Court hearing date
27 September 2023
Exclusion deadline
06 September 2023
Objection deadline
06 September 2023
Hearing deadline
18 September 2023
+$6,200,000
Total Settlement Amount
Created by Stan Vick, Scout