Group 1 - 2U has filed for Chapter 11 bankruptcy, carrying $1 billion in debt and only $125 million in cash as of the end of Q1 [1][2] - The company's stock has plummeted approximately 70% following the bankruptcy announcement [1] - 2U specializes in online education partnerships with American colleges but has faced increased competition and rising marketing costs due to student avoidance of online courses [2] Group 2 - A deal with lenders holding about 87% of its debt will reduce the debt by 50% and provide $110 million in new capital [3] - The bankruptcy process is expected to be completed by the end of September, with the CEO stating that 2U will continue its operations and investments [3] - Following the Chapter 11 process, 2U is anticipated to become a private company, leading to the potential loss of value for existing shareholders [4]

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of 2U, Inc. regarding a class action lawsuit due to alleged misleading statements and failures to disclose critical information during the class period from February 9, 2022, to February 12, 2024 [1][2]. Allegations - The complaint alleges that 2U, Inc. was unable to maintain relationships with key universities and organizations, leading to the cancellation or failure of certain degree programs and partnerships [4]. - It is claimed that the transition to a platform company resulted in a decrease in full course equivalent enrollments [4]. - The company allegedly overstated the stability and longevity of its contractual agreements and revenue sources, making positive statements about its business operations misleading [4]. Class Action Details - Shareholders who purchased shares of 2U, Inc. during the specified class period are encouraged to register for participation in the class action, with a deadline to seek lead plaintiff status set for August 12, 2024 [2][6]. - There is no cost or obligation for shareholders to participate in the case [2][3].

Core Insights - 2U, Inc. is undergoing a financial restructuring to strengthen its balance sheet, aiming to reduce its debt by over 50% and infuse approximately $110 million in new capital [3][10] - The company has filed for a "prepackaged" Chapter 11 bankruptcy, expecting to complete the process quickly, potentially by the end of September 2024 [3][4] - 2U's operations and educational programs will continue without interruption during the restructuring process, ensuring no impact on learners or partners [1][11] Financial Restructuring - The restructuring support agreement involves lenders and noteholders holding about 87% of 2U's outstanding debt, reducing total debt to approximately $459 million [10] - The company anticipates securing $64 million in court-approved financing to support operations during the Chapter 11 process [3] - Following the completion of the transaction, 2U expects to emerge as a private company backed by existing lenders and noteholders [4] Company Mission and Impact - 2U has been a leader in online education for over 15 years, focusing on making high-quality education accessible globally [10][14] - The company connects over 86 million people with thousands of learning opportunities through its platform, edX, in partnership with 260 leading universities [7] - The financing reflects investors' confidence in 2U's mission to enhance education access and its role in the education ecosystem [12]

So what: If you purchased 2U securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. Details of the case: According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) 2U was unable to sustain relationships with key universities and organizations; (2) as a result, certain degree programs and partnerships failed to materialize or were cancelled; (3) 2U's ...

Core Viewpoint - A class action lawsuit has been filed against 2U, Inc. for alleged violations of securities laws, claiming the company made false and misleading statements that led to investor losses [1][9]. Group 1: Lawsuit Details - The lawsuit is based on violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 [1]. - Investors who purchased 2U's securities between February 9, 2022, and February 12, 2024, are encouraged to contact the Schall Law Firm before August 12, 2024 [4]. - The class has not yet been certified, meaning potential class members are not currently represented by an attorney [6]. Group 2: Allegations Against 2U - The complaint alleges that 2U failed to maintain relationships with key universities and organizations, resulting in the cancellation of degree programs and partnerships [9]. - The transition to a new platform led to a decrease in full course enrollments, contributing to the misleading public statements made by the company [9]. - Investors suffered damages when the truth about 2U's situation became known to the market [9].

PHILADELPHIA, July 17, 2024 (GLOBE NEWSWIRE) -- Berger Montague PC announces that a class action lawsuit was filed in the U.S. District Court for the District of Maryland on behalf of those who acquired 2U, Inc. ("2U" or the "Company") (NASDAQ: TWOU) securities. If you suffered losses as a result of your investment in 2U (NASDAQ: TWOU) and would like to learn about a potential recovery, CLICK HERE. The lawsuit has been filed against 2U on behalf of purchasers of 2U securities between February 9, 2022 and Fe ...

Core Points - The Gross Law Firm has issued a notice to shareholders of 2U, Inc. regarding a class action lawsuit related to misleading statements made by the company during a specified class period [1] - The class period for the allegations spans from February 9, 2022, to February 12, 2024, during which the company allegedly failed to maintain key relationships and overstated its business stability [2] - Shareholders are encouraged to register for the class action by the deadline of August 12, 2024, to potentially become lead plaintiffs and receive updates on the case [3] Allegations Summary - The complaint alleges that 2U, Inc. was unable to sustain relationships with key universities and organizations, leading to the cancellation of certain degree programs and partnerships [2] - The transition to a platform company reportedly resulted in a decrease in full course equivalent enrollments, contradicting the company's positive statements about its business prospects [2] - The company is accused of overstating the stability and longevity of its contractual agreements and revenue sources, which misled investors about its operational health [2] Next Steps for Shareholders - Shareholders who purchased shares during the class period should register to participate in the class action, which includes enrollment in a portfolio monitoring software for case updates [3] - There is no cost or obligation for shareholders to participate in the case, and the deadline for seeking lead plaintiff status is August 12, 2024 [3] About the Law Firm - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [4] - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [4]

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of 2U, Inc. (NASDAQ: TWOU) between February 9, 2022 and February 12, 2024, both dates inclusive (the "Class Period"), of the important August 12, 2024 lead plaintiff deadline. WHAT TO DO NEXT: To join the 2U class action, go to https://rosenlegal.com/submit-form/?case_id=26180 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has ...

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of 2U, Inc. regarding a class action lawsuit alleging that the company made materially false and misleading statements during the class period from February 9, 2022, to February 12, 2024 [3][4]. Group 1: Allegations - The complaint alleges that 2U, Inc. was unable to maintain relationships with key universities and organizations, leading to the cancellation or failure of certain degree programs and partnerships [4]. - It is claimed that the company's transition to a platform model would result in a decrease in full course equivalent enrollments [4]. - The lawsuit asserts that the company overstated the stability and longevity of its contractual agreements and revenue sources, making positive statements about its business operations misleading [4]. Group 2: Shareholder Information - Shareholders who purchased shares of 2U, Inc. during the specified class period are encouraged to register for participation in the class action, with a deadline to seek lead plaintiff status set for August 12, 2024 [2][7]. - There is no cost or obligation for shareholders to participate in the case, and they will be enrolled in a portfolio monitoring software for updates [2][6].

Core Viewpoint - A class action securities lawsuit has been filed against 2U, Inc. alleging securities fraud that negatively impacted investors between February 9, 2022, and February 12, 2024 [5]. Group 1: Lawsuit Details - The lawsuit seeks to recover losses for 2U investors who were adversely affected by alleged securities fraud during the specified time frame [1]. - Investors have until August 12, 2024, to request to be appointed as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [2]. - The complaint alleges that the defendants made false statements and concealed critical information regarding the company's relationships with key universities, leading to the cancellation of degree programs and overstated revenue sources [6]. Group 2: Legal Representation - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [3]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [3]. Group 3: Cost Implications - Class members may be entitled to compensation without any out-of-pocket costs or fees, and there is no obligation to participate [7].