OKLAHOMA CITY--(BUSINESS WIRE)--The law firm of Federman & Sherwood has initiated an investigation into 2U, Inc. (NASDAQ: TWOU) with respect to possible violations of federal securities laws.
2U, Inc. (“2U”) operates as an education technology company in the United States, Hong Kong, South Africa and the United Kingdom. Federman & Sherwood’s investigation focuses on allegations that on July 30, 2019, after the close of trading, 2U disclosed its financial results for the quarter ended June 30, 2019. The Company's founder and Chief Executive Officer Christopher "Chip" Paucek stated, "As we deliver our full portfolio of educational offerings to new and existing partners, we are also setting 2U on a defined path to profitability by tempering short-term growth projections and leveraging our scale to drive greater operational efficiencies across the business." On July 31, 2019, 2U shares declined $23.70 per share or approximately 65%, on over 50 times the average trading volume of 2U shares.
If you purchased 2U, Inc. securities and have information to assist in our investigation; or, have any questions or concerns regarding this notice or preservation of your rights, please contact our office. Federman & Sherwood has extensive nationwide experience in representing investors in securities, derivative and merger-related shareholder class actions, and has been appointed as lead counsel in multiple complex cases.