NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, reminds investors that a shareholder filed a class action on behalf of all purchasers of securities of 2U, Inc. (NASDAQ: TWOU) between February 9, 2022 and February 12, 2024. 2U, Inc. describes itself as a “an online education platform company which operates through two segments, the Degree Program and the Alternative Credentials segment.”
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The Allegations: Rosen Law Firm is Investigating the Allegations that 2U, Inc. (NASDAQ: TWOU) Misled Investors Regarding its Business Operations.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) 2U was unable to sustain relationships with key universities and organizations; (2) as a result, certain degree programs and partnerships failed to materialize or were cancelled; (3) 2U’s transition to a platform company would lead to a decrease in full course equivalent enrollments; (4) accordingly, 2U had overstated the stability and/or longevity of its contractual agreements and/or revenue sources; and (5) as a result of the foregoing, defendants’ positive statements about 2U’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against 2U, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by August 12, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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