GlobeNewswire Inc | Jan 20, 2022 07:50PM EST

January 21, 2022

SAN FRANCISCO, Jan. 20, 2022 (GLOBE NEWSWIRE) -- Hagens Berman urges TaskUs, Inc. (NASDAQ: TASK) with significant losses to submit your losses now. The firm is investigating possible securities law violations and certain investors may have valuable claims.

Visit:www.hbsslaw.com/investor-fraud/TASKContact An Attorney Now:TASK@hbsslaw.com 844-916-0895

TaskUs, Inc. (TASK) Investigation:

The investigation focuses on TaskUs and senior managements claims about the companys content monitoring and moderation services (Content Security) business, a core offering largely tied to Facebook, TaskUs largest customer.

Leading up to and after TaskUs initial public offering in June 2021, the company and its senior management have touted the size and growth of the Content Security market and the companys ties to Facebook, enabling TaskUs to complete its IPO and subsequently permit the companys CEO and President to each sell about 1.9 million shares at $63/share to the investing public.

TaskUs and senior managements claims came under question on Jan. 20, 2022, when analyst Spruce Point Management issued a strong sell opinion, in part based on interviews with former TaskUs executives. According to Spruce Point, 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. More specifically, Spruce Point (1) accuses TaskUs of cherry-picking reputable third-party data to embellish its growth and avoid disclosing a slowdown in its Content Security business; (2) reported that, according to a former employee and competitor filings, TaskUs has been minimizing its growing competition; (3) raises questions about TaskUs revenue and expense recognition practices; and, (4) cites TaskUs Facebook-related accounts receivable growth far outstripping Facebook-related sales growth as evidence the company and senior management have obfuscated problems with Facebook and the Content Security business.

This news drove the price of TaskUs shares sharply lower.

Were focused on investors losses and whether TaskUs misrepresented its business and compliance with relevant accounting rules, misrepresented Content Security market size and growth rate, and misrepresented the Facebook relationship and related margins, said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in TaskUs and have significant losses, or have knowledge that may assist the firms investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding TaskUs should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email TASK@hbsslaw.com.

About Hagens BermanHagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact: Reed Kathrein, 844-916-0895