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Radnor, Pennsylvania, December 11, 2021 (Universal News Agency) – Kessler Topaz Meltzer & Check, LLP Notify investors that the U.S. District Court for the Southern District of New York has filed a class action lawsuit against Goldman Sachs Group Inc. (“Goldman Sachs”) and Morgan Stanley (collectively the “defendants”), accusing the two companies of violating federal securities laws, including insider trading, and They illegally dispose of Gaotu Techedu Inc. f/k/a GSX Techedu Inc. (“Gaotu”) related (New York Stock Exchange:Gotu) American Depositary Shares. The defendants illegally sold the shares of Gaotu, so that they collectively avoided billions of dollars in losses, while the investors suffered huge losses.
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Deadline for lead plaintiff: December 20, 2021
Class time: March 22, 2021 to March 29, 2021
Contact a lawyer to discuss your rights:
James Marlow, Esq. (484) 270-1453 or toll free (844) 887-9500 or email to info@ktmc.com
Defendant’s alleged misconduct
Both Goldman Sachs and Morgan Stanley are global financial services institutions serving as the main brokers of Archegos Capital Management (“Archegos”), a family office investment fund that manages $10 billion in assets. Its assets include ViacomCBS Inc. (” ViacomCBS”) and Gaotu, Archegos holds a large concentration of positions in both companies. Without the knowledge of investors and regulators, the defendant also allowed Archegos to bear billions of dollars in volatile stock risks…
The full story can be found on Benzinga.com
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