ATLANTA, GA – – (ACCESSWIRE – January 4, 2023) – – Holzer & Holzer, LLC informs investors that a class action lawsuit has been filed against Gaotu Techedu Inc. (“Gaotu” or the “Company”) f/k/a GSX Techedu Inc. (NYSE: GOTU).  The lawsuit alleges Gaotu made materially false and misleading statements and/or failed to disclose material adverse facts about the Company’s business, operations, and prospects, including: (1) China was barring tutoring for profit in core school subjects and the policy change would restrict foreign investment in a sector that had become essential to success in Chinese school exams; and (2) the impact such regulations would have on Gaotu’s operations and profitability and the value of Gaotu securities.

If you bought or otherwise acquired American depository shares (“ADSs”) of Gaotu between March 5, 2021 and July 23, 2021, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at cholzer@holzerlaw.com or Joshua Karr, Esq. at jkarr@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at https://holzerlaw.com/case/gaotu/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is February 28, 2023.