Robbins Arroyo LLP Reminder: Sunlands Technology Group (STG) Misled Shareholders According to Lawsuit
Sunlands Technology Group American Depositary Shares, representing Class A ordinary shares (STG)
Company Research
Source: Business Wire
SAN DIEGO & BEIJING--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP reminds investors that a purchaser of Sunlands Technology Group (NYSE: STG) has filed a class action complaint against the company for alleged violations of the Securities Act of 1933 pursuant to its March 2018 initial public offering ("IPO"). Sunlands provides post-secondary and professional educational services.View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/sunlands-technology-group-jul-19/Sunlands Technology Group Accused of Misleading Investors in IPOAccording to the complaint, Sunlands held its initial public offering in March 2018, offering 13,000,000 American Depository Shares ("ADSs") at $11.50 per share. In its Registration Statement, Sunlands touted its rapid growth in net revenue and gross billings, which it attributed to its fast-growing student enrollment as a result of its transition to online courses. However, this statement proved to
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