(MENAFN- PR Newswire) NEW YORK, Aug. 28, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of
2U, Inc . ("2U" or the "Company")
(NASDAQ:TWOU ). Such investors are advised to contact Robert S. Willoughby at [email protected]
or 888-476-6529, ext. 7980.
The investigation concerns whether 2U and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On August 8, 2023, 2U issued a press release reporting its financial and operating results for the quarter ended June 30, 2023. Among other items, 2U reported Non-GAAP EPS of -$0.18, missing the average analyst estimate by $0.11, and revenue of $222.09 million, missing consenestimates by $12.07 million. 2U provided updated guidance for its fiscal year, anticipating aloss of $225 million to $220 million. The Company stated that its quarterly results "reflect a shift in timing of planned second quarter revenue to later in the year."
On this news, 2U's stock price fell $1.23 per share, or 28.74%, to close at $3.05 per share on August 9, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numermultimillion-dollar damages awards on behalf of class members. See .
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
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