Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 7, 2019 to file lead plaintiff applications in a securities class action lawsuit against 2U, Inc. (NasdaqGS: TWOU), if they purchased the Company’s securities between the expanded period of February 26, 2018 and July 30, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of 2U and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-twou/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by October 7, 2019.
About the Lawsuit
2U and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 30, 2019, the Company disclosed a range of disappointing financial news including a larger-than-expected loss for 2Q2019, a cut to its fiscal 2019 guidance from a net loss of between $79.M and $77.2M to $157.5M and $151.5M, and that it “will moderate [its] grad program launch cadence.”
On this news, the price of 2U’s shares plummeted nearly 65% on unusually heavy trading volume.
The first-filed case is Harper v. 2U. Inc., et al., 1:19-cv-07390.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.