LOS ANGELES, Jan. 24, 2022 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of TaskUs, Inc. ("TaskUs" or the "Company") (NASDAQ: TASK) investors concerning the Company's possible violations of the federal securities laws.
If you suffered a loss on your TaskUs investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/taskus-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
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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