INVESTIGATION UPDATE: Hagens Berman Reminds 2U, Inc. Investors of Ongoing Investigation
SAN FRANCISCO, Aug. 7, 2019 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP reminds investors in 2U, Inc. of the Firm's investigation of possible violations of the Federal securities laws.
If you invested in 2U before July 31, 2019 and suffered losses or have information that may assist the firm's investigation contact Hagens Berman:
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
The investigation centers on the accuracy of 2U's and senior management's statements about the sustainability of the Company's business model.
More specifically, on July 30, 2019 the Company and senior management announced disappointing Q2 2019 financial results. Specifically, the Company reduced its guidance due to declining enrollment rates in the Company's core grad programs and decreased organic revenue growth. In response, analysts downgraded the Company's stock, including Oppenheimer, which concluded that 2U's was "uninvestable given the uncertainty over its business model."
This news drove the price of 2U shares steeply lower during intraday trading on July 31, 2019.
"We're focused on investors' losses and the extent to which the Company and current or former senior executives may have misled investors about the accuracy and reasonableness of their previously-issued guidance," 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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