BFA Seeks Court Approval of $17.5 Million Proposed Settlement in Securities Litigation Against TaskUs, Inc.

We are pleased to share that BFA has achieved a $17.5 million proposed settlement in the Lozada v. TaskUs, Inc., et al. case. This is a significant step toward securing a meaningful recovery for TaskUs investors after extensive litigation and discovery efforts.
 

This case involves allegations that TaskUs, Inc. made false and misleading statements about its employee attrition rates, culture, and Glassdoor ratings in its June 2021 IPO and October 2021 secondary offering. Specifically, the plaintiffs allege that TaskUs misrepresented its "low attrition" and strong workplace culture, despite having high employee turnover and a Glassdoor rating influenced by reviews that TaskUs required new hires to submit during training.
 

The Court had previously allowed key claims to proceed, including violations of the Securities Act of 1933 and the Securities Exchange Act of 1934. As Lead Counsel, our firm has remained committed to representing our clients vigorously and effectively throughout the legal process.
 

We look forward to sharing further updates as the settlement moves toward finalization.