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STG.US
id: 734

Sunlands Technology Group (STG) $6.2M Shareholder Settlement

E.D. New York
Court
1:19-CV-03744
Case number
03/23/2018
Class period Start
09/18/2018
Class period End
08/28/2023
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.
Case Status
Disbursed
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
06/27/2019
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
09/27/2023
Exclusion deadline
09/06/2023
Objection deadline
09/06/2023
Hearing deadline
09/18/2023
Trades matching type
FIFO
+$6,200,000
Cash Settlement Amount