Class Action Reminder: Kessler Topaz Meltzer & Check, LLP Reminds TaskUs, Inc. Investors of Securities Fraud Class Action | News
RADNOR, Pa., March 19, 2022 /PRNewswire/ — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) advises investors that a securities class action lawsuit has been filed against TaskUs, Inc. (“TaskUs”) (NASDAQ: TASK). The suit accuses TaskUs of violations of federal securities laws, including omissions and fraudulent misrepresentations regarding the company’s business, operations and prospects. As a result of TaskUs materially misleading statements to the public, TaskUs investors suffered significant losses.
Kessler Topaz is one of the world’s foremost advocates for protecting the public from corporate fraud and other wrongdoing. Our securities fraud litigants are consistently individually recognized as leaders in the field and our firm is both feared and respected within the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.
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CLICK HERE TO SUBMIT YOUR TASKUS LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE INTO YOUR BROWSER: https://www.ktmc.com/task-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=task
PRINCIPAL APPLICANT DEADLINE: APRIL 25, 2022
COURSE PERIOD: JUNE 11, 2021 BY JANUARY 19, 2022
CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:
James Maro, Esq. at (484) 270-1453 or by email at [email protected]
ALLEGED MISCONDUCT BY TASKUS
TaskUs is a business process outsourcing company focused on providing three key services to technology companies: (1) digital customer experience (2) content security; and (3) artificial intelligence operations.
At January 20, 2022, Spruce Point Capital Management, LLC released an 80-page report on TaskUs titled “Moderating the Bull Case Content” based on its “financial and accounting review” of TaskUs. The report states that TaskUs “has a pattern of exaggerated and inflated business claims, including revenue, and conceals financial difficulties with reduced disclosures, hand-picked market data, and non-standard key performance metrics. With 28 % of sales to Facebook and tied to the controversial area of ’content moderation’, we find evidence of growing financial strain in the relationship and believe margins and cash flow are set to contract more than expected.” Additionally, according to the report, “we see a tendency to embellish the size of its workforce and make overly optimistic revenue growth statements.”
Following this news, TaskUs stock price fell. $5.46 per share, i.e. more than 15%, of $35.59 per share on January 19, 2022for $30.13 per share at the close of trading on January 20, 2022.
WHAT CAN I DO?
TaskU investors can, not later than April 25, 2022 seek to be appointed as the lead plaintiff representing the class by Kessler Topaz Meltzer & Check, LLP or another attorney, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages TaskU investors who have suffered significant losses to contact the company directly for more information.
CLICK HERE TO REGISTER FOR THE CASE
WHO CAN BE A PRINCIPAL APPLICANT?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead applicant is usually the investor or small group of investors who have the greatest financial interest and who are also adequate and typical of the category of investors proposed. The lead plaintiff chooses an attorney to represent the lead plaintiff and the class and those attorneys, if approved by the court, are the lead or class attorneys. Your ability to participate in any collection is not affected by whether or not to serve as lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP pursues class action lawsuits in state and federal courts nationwide and around the world. The company has developed a worldwide reputation for excellence and has recovered billions of dollars for victims of fraud and other malpractice. All of our work is guided by a common goal: to protect investors, consumers, employees and others from fraud, abuse, corporate and fiduciary misconduct and negligence. In the end, we were successful if the bad guys pay and you get your assets back. The complaint in this action was not filed by Kesler Topaz meltzer & To verify, LLP. For more information on Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, Pennsylvania 19087
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SOURCE Kessler Topaz Meltzer & Check, LLP