San Diego, CA -- (SBWIRE) -- 11/02/2022 -- The Shareholders Foundation announced an update in the lawsuit that was filed for certain investors shares of Sunlands Technology Group (NYSE: STG).

Investors who purchased a shares of Sunlands Technology Group (NYSE: STG) have certain options and for certain investors are short and strict deadlines running. Deadline: August 26, 2019. NYSE: STG investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On June 27, 2019, a lawsuit was filed against Sunlands Technology Group over alleged securities laws violations. The plaintiff alleged that the defendants made false and/or misleading statements and/or failed to disclose that Sunlands's student enrollment was declining, that Sunlands's gross billings were declining, that Sunlands's marketing tactics were not as robust as described in the Registration Statement, and that as a result, defendants' statements about Sunlands's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On November 15, 2019, an amended Complaint was filed and on June 11, 2020, the defendants filed a Motion to Dismiss the amended Complaint.

On June 30, 2020 three of the individual Defendants were voluntarily dismissed.

On March 31, 2021, the Court issued an Order denying Plaintiffs' Motion to Dismiss.

On July 23, 2021, Defendants filed a Motion for Judgment on the Pleadings.

On September 21, 2022, the Court issued an Order denying Defendants' Motion for Judgment.

Those who purchased shares of Sunlands Technology Group (NYSE: STG) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.