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GSX Provides Update on Its Internal Review
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BEIJING, March 1, 2021 /PRNewswire/ GSX Techedu Inc. (NYSE: GSX) ( GSX or the Company ), a leading online K-12 large-class after-school tutoring service provider in China, today provided an update on the status of its internal review. As previously disclosed, following the publication of a number of short-seller reports about the Company from early- to mid-2020, the Company s independent audit committee engaged third-party professional advisers to conduct an independent review into these reports key allegations (the Internal Review ).
The Internal Review is now substantially complete. Based on the agreed upon scope and procedures performed, the Internal Review did not uncover evidence that would have a material impact on GSX s previously reported financial statements.
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I start out an angry bastard on most days, but that’s just before coffee. After that, I actually lighten up and quite enjoy life and laughter. I’m really not the bitter old curmudgeon I tend to unleash when I write. Even much of my political ranting is spent more tongue-in-cheek and facepalming than actually risking a real aneurysm.
But this pisses me right off.
If you’re not familiar with human research, I urge you to brush up on something called an Internal Review Board. Sure, it’s Wikipedia, but for our purposes it’s sufficient to get you up speed here. At hospitals that engage in animal testing, tons of paperwork outlining methods, protocols, etc. need to be filed with their IRB before a mouse so much as gets injected with saline as a control. In academic settings, psychologists must do much the same when testing various of their theories before they can proceed. Hell, I know a grad student in philosophy who had to jump through hoops before she could even pose thought