NEW YORK–(BUSINESS WIRE)–#17ET–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against 17 Education & Technology Group, Inc. (“17 E&T” or the “Company”) (NASDAQ: YQ) on behalf of 17 E&T stockholders. Our investigation concerns whether 17 E&T has violated the federal securities laws and/or engaged in other unlawful business practices.
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On or around December 4, 2020, 17 E&T conducted its initial public offering, selling 27.4 million American Depositary Shares (“ADSs”) priced at $10.50 per ADS.
Then, on June 10, 2022, 17 E&T announced its first quarter financial results, reporting a net loss of $3.9 million alongside a nearly 50% fall in revenue from the prior year to $36.82 million.
On this news, 17 E&T’s stock price fell $1.65 per share, or 21.31%, to close at $2.40 per share on June 10, 2022.
If you purchased or otherwise acquired 17 E&T shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.