TaskUs Settled With Investors Over Attrition and Glassdoor Misconduct — How to Get Your Payout

Court: S.D. New York

Case: 1:22-cv-01479

TaskUs TASK has agreed to pay $17.5 million to settle with investors who say the company misled them about its employee turnover, inflated workplace ratings, and hid major risks in the months after its IPO. This settlement follows reports of internal dysfunction, misleading metrics, and a 20% stock drop.

What Really Happened After the IPO

When TaskUs went public in June 2021, it presented itself as a high-growth outsourcing company with an unbeatable workplace culture. It claimed attrition was low, Glassdoor ratings were glowing, and growth was sustainable.

But, soon reports revealed that actual attrition was much higher than TaskUs let on. Some sources said over half of new employees quit within 60 days. Meanwhile, employees were pressured to leave positive Glassdoor reviews during onboarding, inflating the company’s ratings.

Investors Raise Questions—and the Stock Drops

Just months after its IPO, TaskUs insiders cashed out $742 million in a secondary offering. Then, in early 2022, reports exposed regulatory risks and internal concerns with TaskUs’s operations. The stock dropped nearly 20%, and by February 2022, a class-action lawsuit was filed, accusing the company of misleading investors.

The Deal That Closed the Chapter

Now, nearly three years later, TaskUs has agreed to a $17.5 million settlement to resolve all investor claims. While the company has denied wrongdoing, the agreement offers a path to recovery for shareholders who suffered losses. The deadline to submit a claim is in less than 2 months. You can check the latest details and file yours here.