The Law Offices of Frank R. Cruz announces an investigation of TaskUs, Inc. (“TaskUs” or the “Company”) (NASDAQ: TASK) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On January 20, 2022, Spruce Point Capital Management, LLC published a report alleging, among other things, that TaskUs “has a pattern of exaggerated and inflated business claims, including revenue, and is covering-up financial strain with reduced disclosures, cherry-picked market data, and non-standard key performance metrics.” Regarding the financial strain, the report alleged that “28% of sales [are related] to Facebook and related to the controversial area of ‘Content Moderation,’” which has “requir[ed] more labor to fill tasks, but that it is not translating into additional revenue.”
On this news, TaskUs’s stock fell $5.46, or 15.3%, to close at $30.13 per share on January 20, 2022, thereby injuring investors.
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If you purchased TaskUs securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220121005077/en/
The Law Offices of Frank R. Cruz Announces Investigation of TaskUs, Inc. (TASK) on Behalf of Investors
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
