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SAN FRANCISCO, Oct. 03, 2019 (GLOBE NEWSWIRE) -- Hagens Berman reminds investors in 2U, Inc. (NASDAQ: TWOU) of the Oct. 7, 2019 lead plaintiff deadline in a federal securities class action that has been filed against the Company.
CLASS PERIOD: Feb. 26, 2018 – July 30, 2019
LEAD PLAINTIFF DEADLINE: Oct. 7, 2019
Call: Reed Kathrein, who is leading the firm’s investigation: 510-725-3000
TWOU Class Action:
According to the Complaint, Defendants concealed the following: (1) 2U faced increasing competition in online education and particularly regarding graduate programs; (2) 2U faced program-specific issues that negatively impacted its performance, including 2U’s grad business; (3) 2U’s business model was unsustainable; and (4) 2U would slow its program launches.
On July 30, 2019, the market learned the truth when Defendants announced disappointing Q2 2019 financial results and revised 2U’s 2019 guidance to double its expected loss. Analysts immediately downgraded the stock, including Oppenheimer, which said 2U was “uninvestable given the uncertainty over its business model.”
If you invested in 2U between Feb. 26, 2018 and July 30, 2019 (the “Class Period”) and suffered significant losses ($50,000+) you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case. Contact Hagens Berman immediately for more information about the case and being a lead plaintiff.
“We’re focused on investors’ losses and the extent to which 2U may have misled investors about the sustainability of its business model,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding 2U should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email TWOU@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000