Join The Class Action Suit
Company: 2U, Inc.
Kaskela Law LLC is investigating 2U, Inc. (NASDAQ: TWOU) (“2U” or the “Company”) on behalf of the Company’s stockholders.
In August 2019, a securities fraud complaint was filed against 2U in federal court on behalf of certain purchasers of 2U’s common stock. Among other things, the complaint alleged that 2U and certain executive officers violated the federal securities laws by making a series of materially false and misleading statements to investors between February 26, 2018 and July 30, 2019 concerning 2U’s business, operations, and prospects.
According to the complaint, on July 30, 2019, 2U “shocked the investing public by revealing that the Company’s growth plans were failing and needed to be abandoned as costs ballooned, and that the Company was significantly reducing its 2019 guidance.” Following this news, shares of 2U’s common stock fell $23.70 per share, or over 65% in value, to close on July 31, 2019 at $12.80 per share, on heavy trading volume.
The investigation seeks to determine whether the members of 2U’s board of directors breached their fiduciary duties in connection with the above.
Current 2U stockholders who purchased or acquired shares of the Company’s stock prior to February 26, 2018 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or by completing the information form on this page, to discuss this investigation and their legal rights and options.