SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces an Investigation Involving Possible Securities Fraud Violations by New Ori...
December 06 2016 - 3:53PM
Business Wire
Levi & Korsinsky, LLP announces that it has commenced an
investigation of New Oriental Education & Technology Group Inc.
(“New Oriental” or the “Company”) (NYSE:EDU) concerning possible
violations of federal securities laws by the Company and/or certain
of its officers and directors.
Recently, on December 2, 2016 Reuter’s published an article
revealing that New Oriental has been accused of engaging in college
application fraud. The article claims that “[e]ight former and
current New Oriental employees…told Reuters the firms have engaged
in college application fraud, including writing application essays
and teacher recommendations, and falsifying high school
transcripts.” Additionally, Reuters released an update stating that
due to its earlier report detailing academic fraud allegations at
New Oriental, the American International Recruitment Council
(“AIRC”) “will investigate the company in response to the report”,
and that the AIRC’s president-elect called the allegations “highly
concerning.”
Following this news, the value of New Oriental fell over 14% to
close at $42.00 on December 2, 2016. To obtain additional
information about the investigation, go to:
http://zlk.9nl.com/NewOrientalEducation_EDU
or contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, Connecticut and Washington D.C. The firm’s
attorneys have extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors
throughout the nation in securities and shareholder lawsuits.
Attorney advertising. Prior results do not guarantee similar
outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20161206006369/en/
Levi & Korsinsky, LLPJoseph E. Levi, Esq.Tel:
212-363-7500Toll Free: 877-363-5972Fax: 212-363-7171www.zlk.com
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