GSX Techedu Inc is primarely in the business of services-educational services. 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It also said enrollment in its K-12 online course increased more than 300% year over year. MA: $83.54 $114.99. 50 Broad Street, New York, N.Y. 10004. In a filing, the company said it was asked last summer by the SEC’s enforcement unit to share “certain financial and operating records” going back to 2017. The company has denied the allegations and said it had, “engaged third-party professional advisers to conduct an internal independent review” before the SEC’s review. Citron Research short-seller Andrew Left said the company’s suspicious enrollment numbers stood out in the highly competitive online education industry. CFO Publishing LLC, a division of The Argyle Group. Share . Now: $63.90 $65.00. Compare. Required fields are marked *, Copyright © 2020 CFO. SEC Probes China’s GSX Techedu After Short Sellers’ Pleas Short sellers accuse New York-listed tutoring company of inflating its sales. GSX Techedu, U.S. Securities and Exchange Commission Regaining Momentum in 2020 and Beyond Despite economic turmoil created by the COVID-19 pandemic, recent surveys show a clear trend of CFOs taking a long view when developing their international operations strategies and cross-border M&A plans. GSX reported revenue of about $233 million for the second quarter, a more than four-fold increase year over year. Re: GSX Techedu’s operational & financial frauds; market manipulation To Mr. Jay Clayton, This letter is in regards to the unmistakable fraud and market manipulator, GSX Techedu (ticker: GSX), and the lack of action to date by the SEC. For financial … In May, Carson Block of Muddy Waters Research said he had shorted the company’s stock after concluding it was, “a near-total fraud.”. In June, Luckin said it would not contest Nasdaq’s decision to delist the company after a financial misconduct scandal that led to the firing of its chief executive officer and chief operating officer and sent its share price plummeting. “That was a very important part of the short thesis,” Left said. 50-Day Range. Can food delivery services save UK restaurants? Today's Range. $17.15. The company has been a target for short-sellers in recent months. GSX also allegedly used shell companies to disguise expenses. “If the audits are done properly it will go to zero and delist.”. GSX Techedu, a US-listed Chinese education company, is facing an investigation by the US securities regulator following allegations from short-sellers that it faked sales. For financial … That probe was prompted by a report from Wolfpack Research that accused iQiyi of inflating revenue and user numbers. GSX Techedu Inc is primarely in the business of services-educational services. GSX Techedu is Faking Classes and Ruining Chinese Children’s Education Wednesday 14th October : Ticker GSX Data as of Oct.3 - updated Oct.10 Course Name … Investors right to see through the gloom to economic upturn, The risks in the power of stock market indices, What Mrs Watanabe can tell us about how to handle low returns, ‘Citgo 6’ oil executives found guilty in Venezuela, Goldman leads Wall Street bulls as markets ride high, No-deal Brexit is the UK’s biggest economic threat, not Covid, What the dream hoarders get wrong about parenting, We must do more to kill off meeting monsters, The grown-ups are back in charge in Washington, Expats return to Dublin to find a transformed property market, For 4 weeks receive unlimited Premium digital access to the FT's trusted, award-winning business news, MyFT – track the topics most important to you, FT Weekend – full access to the weekend content, Mobile & Tablet Apps – download to read on the go, Gift Article – share up to 10 articles a month with family, friends and colleagues, Delivery to your home or office Monday to Saturday, FT Weekend paper – a stimulating blend of news and lifestyle features, ePaper access – the digital replica of the printed newspaper, Integration with third party platforms and CRM systems, Usage based pricing and volume discounts for multiple users, Subscription management tools and usage reporting, Dedicated account and customer success teams.