2U, Inc.

Case Details

Class Period:
February 26, 2018 – July 30, 2019
Date Filed:
August 8, 2019
Case Number:
1:19cv07390
Jurisdiction:
New York Southern District Court

Case Summary

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company faced increasing competition in online education and particularly regarding graduate programs; (2) that the Company faced certain program-specific issues that negatively impacted its performance; (3) that, as a result, the Companys business model was not sustainable; (4) that the Company would slow its program launches; and (5) that, as a result of the foregoing, Defendants positive statements about the Companys business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Action Details

View Complaint (pdf)

Send Information

If you have information regarding this case that you would like to make available, please click here to contact us.