2U ( (TWOUQ) ) has shared an announcement.
2U, Inc. and its subsidiaries, collectively known as the Debtors, have initiated voluntary Chapter 11 bankruptcy proceedings to restructure their debts under a prepackaged joint plan of reorganization. On September 9, 2024, the Bankruptcy Court approved the plan, which includes the cancelation of all outstanding common stock without compensation and the intention for 2U, Inc. to transition into a private company post-reorganization. Investors are advised to exercise caution when trading the company’s securities, as their value may not reflect the potential outcome of the bankruptcy process. The company’s monthly operating reports and additional case information are available through a third-party bankruptcy claims agent’s website but should not be relied upon for investment decisions.
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