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STG.US
id: 734

Sunlands Technology Group (STG) $6.2M Shareholder Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.
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.
Case Status
Accepting Late Claims
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
Cash Settlement Amount

Sunlands Technology Group

Sunlands Technology Group provides online education services through online and mobile platforms in the People's Republic of China. It offers adult online education and adult personal interest lear...

    Ticker
    STG.US
    ISIN
    US86740P2074
    Sector
    Consumer Defensive
    Industry
    Education & Training Services
    Country
    USA
    Address
    Building 4-6, Beijing, China, 100012