2U(US:TWOU) Prnewswire·2024-06-18 09:45Core Viewpoint - A class action securities lawsuit has been filed against 2U, Inc. alleging that the company made false statements and concealed critical information regarding its business operations and partnerships [1][2]. Summary by Relevant Sections Allegations of the Lawsuit - The complaint claims that 2U was unable to maintain relationships with key universities and organizations, leading to the cancellation or failure of certain degree programs and partnerships [2]. - It is alleged that the transition to a platform company would result in a decrease in full course equivalent enrollments [2]. - The lawsuit asserts that 2U overstated the stability and longevity of its contractual agreements and revenue sources, making the company's positive statements materially misleading [2]. Class Definition and Participation - The lawsuit seeks to recover losses for 2U investors adversely affected by the alleged securities fraud between February 9, 2022, and February 12, 2024 [5]. - Investors have until August 12, 2024, to request the Court to appoint them as lead plaintiffs, although participation in any recovery does not require serving as a lead plaintiff [5]. 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 [6]. - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [6].