NEW YORK, Feb. 24, 2022 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against TaskUs, Inc. (“TaskUs” or the “Company”) (NASDAQ: TASK) in the United States District Court for the Southern District of New York on behalf of investors who purchased Company securities between June 11, 2021 and January 19, 2022, inclusive (the “Class Period”).
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was experiencing severe financial strain and business challenges, particularly with its most important customer Facebook; (2) the Content Security market was smaller than Defendants represented and Defendants’ representations were based on outdated market data; (3) the Company improperly recognized revenue from certain key contracts; (4) Defendants overstated the size of the Company’s workforce as well as employee retention rates, and understated attrition rates; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages
Investors who purchased or otherwise acquired shares of TaskUs should contact the Firm prior to the April 25, 2022 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
