RM LAW, P.C. announces an investigation on behalf of Sunlands Technology Group (NYSE: STG) (“Sunlands” or the “Company”) investors concerning the Company and its officers’ possible violations of federal securities laws.
If you purchased shares of Sunlands and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
On March 23, 2018 , Sunlands completed its Initial Public Offering ("IPO"), issuing 13 million American depositary receipts ("ADRs") priced at $11.50 per share. On May 28, 2019 , Sunlands announced its financial and operating results for the first quarter of 2019, which included a net loss of $16.8 million , and advised investors that the Company's "new student enrollments declined, and gross billings were down 28.6% year-over-year."
Following this news, Sunlands' ADR price fell $0.19 per share, or 6.46%, to close at $2.75 per share on May 29, 2019 , representing a total decline of $8.75 per share, or 76.09%, from the IPO price.