Recent Security Class Actions

TaskUs Inc. Class A Common Stock (NASDAQ: TASK)

Company Name:TaskUs Inc. Class A Common Stock
Stock Symbol:NASDAQ: TASK
Class Period Start:06/11/2021
Class Period End (inclusive):01/19/2022
Filing Deadline:04/25/2022

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements, while in truth: (1) TaskUs was experiencing severe financial strain and business challenges; (2) the Content Security market was smaller than Defendants represented and Defendants’ representations were based on outdated market data; (3) TaskUs improperly recognized revenue from certain key contracts; (4) Defendants overstated the size of TaskUs’ workforce as well as employee retention rates, and understated attrition rates; and (5) that, 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. The Complaint further alleges that after a short-seller's report accused the Company of failing to disclose enough information about its revenue, the value of the Company's stock declined dramatically, resulting in significant harm to investors.