SHAREHOLDER ALERT: The Pomerantz Law Firm announces the filing of a class action lawsuit against 2U, Inc.

NEW YORK, June 15, 2024 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against 2U, Inc. (“2U” or the “Company”) (NASDAQ: TWOU). Investors are advised to contact Danielle Peyton at (email protected) or 646-581-9980 (or 888.4-POMLAW), toll-free, extension 7980. For inquiries by email, you will be asked to provide your mailing address, telephone number and the number of shares purchased.

The class action lawsuit concerns whether 2U and certain of its officers and/or directors engaged in securities transactions Fraud or other unlawful business practices.

You have until 12 August 2024to ask the Court to appoint you as lead plaintiff for the class if you are a shareholder who purchased or otherwise acquired 2U securities during the Class Period. A copy of the complaint is available att www.pomerantzlaw.com.

(Click here for information on joining the class action lawsuit.)

At 9 November 2023After the stock market closed, 2U announced that the company and the University of Southern California (“USC“) would end their 15-year collaboration in the company’s most important programs, and that USC would pay approximately 40 million US dollars in connection with this exit. 2U also announced that it would 80 million US dollars in the fourth quarter related to partners seeking a negotiated exit from certain degree programs, which the company euphemistically referred to as “portfolio management activities.” The company said these portfolio management activities offset a 21% decline in full degree program enrollments, primarily due to “the impact of the transition to a new marketing concept in mid-2022.” The company also announced financial quarter results, showing that degree program revenue was flat year-on-year, total revenue decreased 1%, and revenue from the alternative credentials segment decreased 3%.

Following this news, 2U’s share price fell $40.50 per share or 56.72% and closed at 30,90 € per share on 10 November2023.

Then on February 12, 2024After the market closed, 2U announced that due to the company’s debt, “there is significant doubt about its ability to continue as a going concern.” The company also announced that it 88.0 million US dollars of revenues from portfolio management activities (ie negotiated fees for early termination of partnership agreements) in the year and there would be a further 10 million US dollars from such activities in the first quarter of 2024 and at least 15 million US dollars in the full year 2024. 2U also announced its annual sales of 946 million US dollarsand thus clearly missed the company’s forecast of 965 million US dollars To 990 million US dollarsand announced that revenues in the Degree Programmes segment, Alternative Qualifications segment and total revenues decreased by 2% year-on-year. The company also provided guidance for the full year 2024, estimating that revenues of 946 million US dollarsTo 805 million US dollars To 815 million US dollars.

Following this news, 2U’s share price fell $16.34 per share or 59.33%, and closed at $27.55 per share on February 13, 2024.

Pomerantz LLP, with offices in new York, Chicago, Los Angeles, London, ParisAnd Tel-Avivis considered one of the leading law firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. PomerantzKnown as the dean of class action lawyers, Pomerantz was a pioneer in the field of securities class action litigation. Today, more than 85 years later, Pomerantz continues the tradition he established and fights for the rights of securities litigation victims. FraudBreach of fiduciary duty and corporate misconduct. The firm has won billions of dollars in damages on behalf of class action plaintiffs. See www.pomlaw.com.

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CONTACT:
Danielle Peyton
Pomerantz LLP
(email protected)
646-581-9980 extension 7980

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