According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that:
- 2U was unable to sustain relationships with key universities and organizations;
- as a result, certain degree programs and partnerships failed to materialize or were cancelled;
- 2U’s transition to a platform company would lead to a decrease in full course equivalent enrollments;
- accordingly, 2U had overstated the stability and/or longevity of its contractual agreements and/or revenue sources; and
- as a result of the foregoing, defendants’ positive statements about 2U’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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