TASKUS SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of TaskUs, Inc. (NASDAQ: TASK) and Encourages Long-Term Investors to Contact the Firm
PHILADELPHIA, June 12, 2024 /PRNewswire/ -- Kaskela Law LLC announces that it is investigating TaskUs, Inc. (NASDAQ: TASK) on behalf of the company's long-term investors.
Recently an amended securities fraud complaint was filed against TaskUs on behalf of certain investors who purchased shares of the company's stock between June 11, 2021 and January 19, 2022. According to the complaint, during that time period TaskUs and certain of the company's senior executive officers made a series of materially false and misleading statements concerning two key human capital (the core of TaskUs' business) metrics: (i) TaskUs's employee attrition rate and (ii) its rating on Glassdoor.
As detailed in the complaint, on January 20, 2022, Spruce Point Capital Management, LLC ("Spruce Point") issued a report on TaskUs titled "Moderating the Bull Case Content" (the "Report"). Based on a "forensic financial and accounting review" of TaskUs and interviewing former TaskUs executives and employees, Spruce Point concluded that "TASK's claim of a superior corporate culture evidenced by below industry standard workforce attrition appear[s] to be highly exaggerated." Following the issuance of this Report, shares of TaskUs' common stock declined $6.80 per share, or nearly 20% in value, to close on January 21, 2022 at $28.79 per share.
The investigation seeks to determine whether the members of TaskUs' board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.
TaskUs shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750 or (888) 715 – 1740 for additional information about this investigation and their legal rights and options, or by clicking on the following link (or if necessary, copying and pasting the link into your browser):
https://kaskelalaw.com/cases/taskus/
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
([email protected])
Adrienne Bell, Esq.
([email protected])
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com
This notice may constitute attorney advertising in certain jurisdictions.
SOURCE Kaskela Law LLC
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