Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of TaskUs, Inc. (TASK) Investors

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired TaskUs, Inc. (“TaskUs” or the “Company”) (NASDAQ: TASK) securities between June 11, 2021 and January 19, 2022, inclusive (the “Class Period”). TaskUs investors have until April 25, 2022 to file a lead plaintiff motion.

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 shareholders@glancylaw.com 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.

The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) TaskUs was experiencing severe financial strain and business challenges, particularly with its most important customer Facebook; (2) the Content Security market was smaller than Defendants represented and Defendants’ representations were based on outdated market data; (3) TaskUs improperly recognized revenue from certain key contracts; (4) Defendants overstated the size of TaskUs’ workforce as well as employee retention rates, and understated attrition rates; and (5) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.

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If you purchased or otherwise acquired TaskUs securities during the Class Period, you may move the Court no later than April 25, 2022 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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