The Kehoe Law Firm proudly announces that on January 5, 2024, U.S. District Judge John P. Cronan denied in significant part a motion to dismiss filed by digital solutions provider TaskUs and certain of its executives over alleged false statements they made regarding the company’s turnover and Glassdoor ratings.​

U.S. District Judge John P. Cronan on Friday issued an opinion and order stating that plaintiffs Humberto Lozada and the Oklahoma Firefighters Pension and Retirement System that the IPO and SPO filings contained misleading statements about TaskUs’ Glassdoor ratings and that plaintiffs have adequately pleaded that TaskUs misled investors to believe its Glassdoor ratings “accurately reflected the company’s positive workplace culture.”

According to the suit, the ratings were the result of a policy at TaskUs requiring brand new employees to submit a review while still in training and “were still excited about [TaskUs] based on management’s promises that it was a ‘fun place to work,’ and had not yet experienced the disappointing reality of working at TaskUs.”

The judge said that while an individual, “after embarking on a substantial effort,” could figure out that new employees did all the ratings, it does not mean that such information or data was “feasibly digestible.”​

“A reasonable investor cannot be expected to have the ability to design or obtain a program to collect information from thousands of different Glassdoor ratings and associated rater profiles,” the order stated. “More fundamentally, public data on the raters’ tenures would not have revealed the alleged reason so many reviews came from new employees: the existence of a policy at TaskUs requiring new employees to submit reviews.”​

The case is Lozada v. TaskUs Inc. et al., 1:22-cv-01479, in the U.S. District Court for the Southern District of New York.​

For more information about Kehoe Law Firm and its involvement in this matter, please contact Michael Yarnoff at [email protected] or call (215) 792-6676.

In a move that underscores our dedication to the well-being of public safety personnel and pension funds, the Kehoe Law Firm today announces that we have officially renewed our membership with the Illinois Public Pension Fund Association (IPPFA).

Founded in 1985, the IPPFA has been at the forefront of advocating for the interests of police and fire defined benefit retirement funds in the state of Illinois. The organization was born out of a shared concern among elected fund trustees, who recognized the challenges and responsibilities that came with their roles. Over the years, the IPPFA has focused on educating pension fund trustees, offering legal advice and representation, and actively supporting legislation that enhances the prospects of Illinois Pension Funds.

Kehoe Law Firm’s decision to become a part of IPPFA aligns with our original goals, reflecting a shared commitment to the well-being and security of public safety personnel in the state. The law firm, known for its role in high-stakes legal matters related to pensions and retirement funds, brings a wealth of experience to the association.  “We are thrilled to remain a part of the IPPFA family,” said Kevin P. Cauley, Director of Business Development. “Our dedication to providing legal counsel and representation for pension funds aligns seamlessly with IPPFA’s mission. It reinforces our collective efforts to ensure the retirement security of public safety personnel in Illinois.”​

Kehoe Law Firm’s involvement with the IPPFA comes at a crucial time, as the association continues to evolve and expand its services.  “As a firm, we are committed to safeguarding the interests of pension funds and the individuals they serve,” commented Mr. Cauley. “Joining IPPFA allows us to contribute to a community of like-minded professionals, pooling our expertise to address the evolving challenges facing public pension funds in Illinois.”​

For more information about Kehoe Law Firm and its involvement in institutional investing matters, please contact Kevin P. Cauley at [email protected] or call (215) 792-6676.