NEW YORK, Sept. 07, 2022 (GLOBE NEWSWIRE) — On behalf of 17 Education & Technology Group Inc. (“17 E&T” or the “Company”) (NASDAQ: YQ) to investigate allegations. Such investors are advised to contact Robert S. Willoughby ?Email: [email protected] Or call: 888-476-6529 ext. 7980.

The investigation included whether 17 E&T and some of its officers and/or directors were involved in securities fraud or other illegal business practices.

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On or about December 4, 2020, 17 E&T completed an initial public offering to sell 27.4 million American Depositary Shares (“ADS”) at a price of $10.50 per share. Then, on June 10, 2022, 17 E&T reported its financial results for the first quarter with a net loss of $3.9 million, with earnings down almost 50% year-on-year to $36.82 million.

Affected by this news, shares of 17 E&T closed at $2.40 per share on June 10, 2022, down $1.65 or 21.31%.

With offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, Pomerantz LLP is a premier class action law firm specializing in corporate, securities and antitrust law. Pomerantz was founded by the late Abraham L. Pomerantz, President of the Class Action Law Firm, to pioneer securities class actions. Today, more than 85 years later, Pomerantz continues the company’s legacy of fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate wrongdoing. The company has recovered millions of dollars in damages on behalf of the class members.please browse www.pomlaw.com?

Interlocutor:
Robert S Willoughby
?Pomerantz LLP
?Email: [email protected]
?Tel: 888-476-6529 ext. 7980