Hagens Berman Notifies Investors in 2U, Inc. (TWOU) of Class Action, Encourages Investors Who Lost $50,000+ to Contact the Firm
SAN FRANCISCO, Aug. 8, 2019 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in 2U, Inc. (NASDAQ: TWOU) to the securities class action, Harper v. 2U, Inc. et al., No. 1:19-cv-07390, filed in the U.S. District Court for the Southern District of New York.
If you invested in 2U between February 25, 2019 and July 30, 2019 (the "Class Period") and suffered losses you do not need to sign up to be included in the putative class of investors.
If you suffered significant losses (in excess of $50,000) you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case.
If you wish to serve as a lead plaintiff in this class action, you must move the Court no later than October 7, 2019 (the "Lead Plaintiff deadline"). Contact Hagens Berman immediately for more information about the case and being a lead plaintiff:
https://www.hbsslaw.com/investor-fraud/TWOU
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing
According to the Complaint, Defendants misrepresented and 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 U2'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."
This news drove the price of 2U shares steeply lower on July 31, 2019.
"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 [email protected].
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.
Contact:
Reed Kathrein, 510-725-3000
SOURCE Hagens Berman Sobol Shapiro LLP
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