Benzinga | Apr 9, 2021 07:37AM EDT

GSX Press Release Says Co. 'Firmly Denies' Allegations In Grizzly Report

GSX Techedu Inc. (NYSE:GSX) ("GSX" or the "Company"), a leading online K-12 large-class after-school tutoring service provider in China, today firmly denies the false and ungrounded allegations raised in a report by Grizzly Research dated April 8, 2021. The Company strongly believes that the report contains numerous errors, unsubstantiated statements, and misinterpretation of information.

GSX will consider any necessary and appropriate course of action to protect the interest of the Company and all of its shareholders, as well as its students, parents, employees and other stakeholders. The Company endeavors to provide full and accurate disclosure to investors and to rebut any false claims that attempt to impair market confidence in GSX's business, operations and financial statements. GSX is committed to maintaining the highest standards of corporate governance, as well as transparent and timely disclosure in compliance with the applicable rules and regulations of the United States Securities and Exchange Commission and the New York Stock Exchange.