NEW YORK, Sept. 06, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of 17 Education & Technology Group Inc. (“17 E&T” or the “Company”) YQ. Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether 17 E&T and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On or about December 4, 2020, 17 E&T completed its initial public offering, selling 27.4 million American Depositary Shares (“ADSs”) at $10.50 per ADS. Then, on June 10, 2022, 17 E&T reported its financial results for the first quarter and reported a net loss of $3.9 million on a nearly 50% year-over-year decline in revenue to $36.82 million.

As a result of this news, 17 E&T’s share price fell $1.65 per share, or 21.31%, to close at $2.40 per share on June 10, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com.

CONTACT:
Robert S Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980