GSX (GSX) Discloses SEC Investigation

GSX Techedu Inc. (NYSE: GSX) disclosed an SEC Investigation in its earnings press release, stating:

"Following a number of short-seller reports about the Company from approximately February 2020 to approximately July 2020, the SEC's Division of Enforcement contacted the Company, requesting it to produce certain financial and operating records dating from January 1, 2017. The Company is cooperating with the SEC. We cannot predict the timing, outcome, or consequence of the SEC investigation.

Prior to the SEC contact, the Audit Committee of the Board of Directors of the Company engaged third party professional advisers to conduct an internal independent review into these reports' key allegations. As work remains ongoing, we cannot predict the timing, outcome, or consequence of that review."

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