NEW YORK, Dec. 6, 2016 /PRNewswire/ -- Pomerantz LLP
is investigating claims on behalf of investors of New Oriental
Education & Technology Group Inc. ("New Oriental" or the
"Company") (NYSE: EDU). Such investors are advised to contact
Robert S. Willoughby at
rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether New Oriental and certain of
its officers and/or directors have violated Sections 10(b) and
20(a) of the Securities Exchange Act of 1934.
[Click here to join a class action]
On December 2, 2016,
Reuters published an article reporting that New Oriental has
been accused of engaging in college application fraud. The
article states that the Company had engaged in "writing application
essays and teacher recommendations, and falsifying high school
transcripts." Reuters subsequently reported that 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."
On this news, New Oriental stock fell $6.99, or 14.27%, to close at $42.00 on December 2,
2016.
The Pomerantz Firm, with offices in New York, Chicago, Los
Angeles, and Florida, is
acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late
Abraham L. Pomerantz, known as the
dean of the class action bar, the Pomerantz Firm pioneered the
field of securities class actions. Today, more than 80 years later,
the Pomerantz Firm continues in the tradition he established,
fighting for the rights of the victims of securities fraud,
breaches of fiduciary duty, and corporate misconduct. The Firm has
recovered numerous multimillion-dollar damages awards on behalf of
class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP