SAN DIEGO, Sept. 06, 2022 (GLOBE NEWSWIRE) — Shareholder Rights Law Firm Johnson Fistula, LLP announces that a class action lawsuit has been filed on behalf of investors 17 Education & Technology Group Inc. (“17EdTech” or the “Company”) YQ. The Class Action is being brought on behalf of shareholders who purchased or otherwise acquired 17EdTech securities pursuant to and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with EdTech’s IPO on December 17, 2020 (the “IPO” or “Offering”). Investors are hereby notified that they have until September 19, 2022 to request the court to appear as lead plaintiff in this lawsuit.

What actions can I take at this time? If you have suffered a loss and would like to learn more about being a lead plaintiff, please contact Jim Baker ([email protected]) via email or phone at 619-814-4471. When emailing, please include your phone number.

To participate in this promotion you can click on the following link or copy and paste it into a browser:

https://www.johnsonfistel.com/investigations/17-education-yq-ipo-lawsuit

There are no costs or obligations for you.

The complaint alleges that the registration statement contained false and/or misleading information and/or failed to disclose the following: (1) 17EdTech’s K-12 Academic AST Services would terminate less than one year after the IPO; (2) as part of their ongoing regulatory efforts, the Chinese authorities would immediately restrict and/or terminate 17EdTech’s core business; and (3) as a result, the statements made by defendants about the Company’s business, operations and prospects were materially false and misleading and/or lacking a reasonable basis at all relevant times. As the true details emerged, the lawsuit alleges that investors suffered damage.

A lead plaintiff will act on behalf of all other group members in directing the 17EdTech class action. The lead plaintiff may select a law firm of its choice to conduct the class action. An investor…