Sunlands Technology Group

Sunlands (STG) Class Action Alert: Johnson Fistel Encourages Investors to Contact Firm

SAN DIEGO- PRNewswire —July 20, 2019

Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of shareholders of Sunlands Technology Group (“Sunlands”) (NYSE: STG).

The class action is on behalf of shareholders who purchased Sunlands common stock pursuant or traceable to the March 2018 initial public stock offering (the “IPO”). If you wish to serve as lead plaintiff in this class action, you must move the Court no later than August 26, 2019.

[click here to join this action]

On or about March 23, 2018, Sunlands sold 13 million shares of stock in its initial public stock offering (the “IPO”), at $11.50 a share raising $149,500,000 in new capital. The lawsuit alleges that, the Registration Statement was false and contained misleading statements and failed to disclose that: (1) Sunlands’ student enrollment was declining; (2) Sunlands’ gross billings were declining; (3) Sunlands’ marketing tactics were not as robust as described in the Registration Statement; and (4) as a result, defendants statements about Sunlands’ business, operations, and prospects were materially false and misleading and lacked a reasonable basis at all relevant times. The lawsuit claims that investors suffered damages as Sunlands securities are trading significantly below the IPO price.

If you are interested in learning more about your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.

Additionally, you can [click here to join this action]. There is no cost or obligation to you.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

  • Plaintiff certifies that:
    • 1. Plaintiff did not acquire the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this private action or any other litigation under the federal or state securities laws.
    • 2. Plaintiff is willing to serve as a representative party, including providing testimony at deposition and trial, if necessary.
    • 3. Plaintiff represents and warrants that he/she/it is fully authorized to enter into and execute this certification.
    • 4. If a class action is filed, Plaintiff will not accept any payment for serving as a representative party on behalf of a class beyond the Plaintiff's pro rata share of any recovery, except such reasonable costs and expenses (including lost wages) directly relating to the representation of the class as ordered or approved by the court.
    • 5. For purposes of a class action, Plaintiff has made no transaction(s) during the Class Period in the debt or equity securities that are the subject of this action except those set forth below:
  • Acquisitions (include: date shares were acquired, number of shares acquired, and acquisition price per share. Separate each item with a comma. For multiple acquisitions, separate each acquisition with a new line):
  • Sales (include: date shares were sold, number of shares sold, and selling price per share. Separate each item with a comma. For multiple sales, separate each sale with a new line.):
  • During the three years prior to the date of this certification, Plaintiff has not sought to serve or be served as a representative party for a class in an action filed under the federal securities law except if detailed below:

Click to view Retention Agreement