TWOU - TWOU Class Action Alert: Robbins LLP Reminds Stockholders of the Lead Plaintiff Deadline in the Class Action Against 2U Inc. | Benzinga
SAN DIEGO, June 27, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of persons and entities that purchased or otherwise acquired 2U, Inc. (NASDAQ:TWOU) securities between February 9, 2022 and February 12, 2024. 2U is an online platform company that operates through two segments – the Degree Program and the Alternative Credentials segment.
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The Allegations: Robbins LLP is Investigating Allegations that 2U, Inc. (TWOU) Misled Investors Regarding it Business Prospects
According to the complaint, on February 12, 2024, 2U disclosed that due to the Company's debt "there is substantial doubt about its ability to continue as a going concern." The Company further disclosed it recognized $88 million of revenue from portfolio management activities (i.e., fees negotiated for early partnership contract termination) in the year and it would assume another $10 million from such activities in the first quarter of 2024 and at ...