Kaskela Law LLC announces that it is investigating TaskUs, Inc. (NASDAQ: TASK) on behalf of the company’s long-term investors.
Recently an amended securities fraud complaint was filed against TaskUs on behalf of certain investors who purchased shares of the company’s stock between June 11, 2021 and January 19, 2022. According to the complaint, during that time period TaskUs and certain of the company’s senior executive officers made a series of materially false and misleading statements concerning two key human capital (the core of TaskUs’ business) metrics: (i) TaskUs’s employee attrition rate and (ii) its rating on Glassdoor.
As detailed in the complaint, on January 20, 2022, Spruce Point Capital Management, LLC (“Spruce Point”) issued a report on TaskUs titled “Moderating the Bull Case Content” (the “Report”). Based on a “forensic financial and accounting review” of TaskUs and interviewing former TaskUs executives and employees, Spruce Point concluded that “TASK’s claim of a superior corporate culture evidenced by below industry standard workforce attrition appear[s] to be highly exaggerated.” Following the issuance of this Report, shares of TaskUs’ common stock declined $6.80 per share, or nearly 20% in value, to close on January 21, 2022 at $28.79 per share.
The investigation seeks to determine whether the members of TaskUs’ board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.
TaskUs shareholders who purchased or acquired their shares prior to August 10, 2021 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750 or (888) 715 – 1740, or by email (skaskela@kaskelalaw.com / abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/taskus/ , for additional information about this investigation and their legal rights and options.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240509495416/en/
Contacts
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com
