PHILADELPHIA, June 28, 2024 (GLOBE NEWSWIRE) -- A securities fraud lawsuit has been filed against 2U, Inc. (“2U” or the “Company”) (NASDAQ: TWOU). The lawsuit is captioned Beaumont v. 2U, Inc., et al., No. 8:24-cv-01723 (D. Md.), and is filed on behalf of purchasers of 2U securities between February 9, 2022 and February 12, 2024, inclusive (the “Class Period”).
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Investors who purchased or acquired 2U securities during the Class Period may, no later than August 12, 2024, seek to be appointed as a lead plaintiff representative of the class.
2U is an online education platform company based in Lanham, Maryland. According to the complaint, throughout the Class Period, the defendants failed to disclose to investors that: (1) the Company was unable to sustain relationships with key universities and organizations; (2) as a result, certain degree programs and partnerships failed to materialize or were cancelled; (3) the Company’s transition to a platform company would lead to a decrease in full course equivalent enrollments; and (4) accordingly, the Company had overstated the stability and/or longevity of its contractual agreements and/or revenue sources.
For additional information or to learn how to participate in this litigation, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net or (215) 875-3048, or CLICK HERE.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contact:
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net
Peter Hamner
Berger Montague PC
(215) 875-3048
phamner@bm.net
