NEW YORK, April 12, 2020 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of LAIX Inc. ("LAIX" or the "Company") (NYSE: LAIX). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether LAIX and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 12, 2020, LAIX issued a press release announcing the Company's unaudited fourth quarter and full year 2019 financial results. For the quarter, LAIX reported GAAP earnings per share of -$0.60 on revenue of $33.2 million, both of which fell short of consensus estimates.
On this news, LAIX's stock price fell $0.69 per share, or 15.4%, to close at $3.79 per share on March 13, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP