STG.US
id: 734, Created by Stan Vick, Scout
Sunlands Technology Group (STG) $6.2M Shareholder Settlement
How it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
Claim deadline for this case already passed by, but we can still try and file for compensation for you
Claim payout
E.D. New York
Court 1:19-CV-03744
Case number23 Mar 2018
Class period Start18 Sept 2018
Class period End28 Aug 2023
Claim deadlineSunlands 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:
- Sunlands's student enrollment was declining;
- Sunlands' gross billings were declining;
- Sunlands's marketing tactics were not as robust as described in the Registration Statement; and
- 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
Lead plaintiff
David B. Horowitz
Attorney
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