Gaotu Techedu, Inc.

GOTU
Florio v. Goldman Sachs Group Inc. et al., (Case No. 1:21-cv-08618), S.D.N.Y

The complaint alleges that during one week in late March 2021, investment banks Goldman Sachs and Morgan Stanley traded on inside information by selling large amounts of Gaotu Techedu, Inc. (GOTU) stock based on then publicly undisclosed information obtained through their relationship with troubled multi-billion dollar family office Archegos Capital Management. Both banks avoided billions of dollars of losses by selling before the information was publicly available.

Shares of Gaotu Techedu, Inc. stock fell over 60% during the week of March 22, 2021 to March 29, 2021.

Lead Plaintiff deadline
December 20, 2021
class period
March 22, 2021
to
March 29, 2021
Case Documents
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