BEIJING, June 14, 2018
/PRNewswire/ -- TAL Education Group (NYSE: TAL) ("TAL" or the
"Company"), a leading K-12 after-school tutoring services provider
in China, today issued the following statement in
response to allegations made by Muddy Waters Capital, a short
seller:
The allegations made by this short seller contain numerous
errors, unsupported speculation and malicious interpretations of
events.
TAL Education Group's board of directors has been made aware of
the short seller report. The board, together with its audit
committee, intends to review the allegations made and will consider
appropriate actions to protect the interest of its
shareholders.
TAL Education Group remains focused on its business strategy to
maintain and strengthen its leadership in China's private education market.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Statements that
are not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the
Company's ability to continue to attract students to enroll in its
courses; the Company's ability to continue to recruit, train and
retain qualified teachers; the Company's ability to improve the
content of its existing course offerings and to develop new
courses; the Company's ability to maintain and enhance its brand;
the Company's ability to maintain and continue to improve its
teaching results; and the Company's ability to compete effectively
against its competitors. Further information regarding these and
other risks is included in the Company's reports filed with, or
furnished to the U.S. Securities and Exchange Commission. All
information provided in this press release and in the attachments
is as of the date of this press release, and TAL Education Group
undertakes no duty to update such information or any
forward-looking statement, except as required under applicable
law.
About TAL Education Group
TAL Education Group is a leading K-12 after-school tutoring
services provider in China. The
acronym "TAL" stands for "Tomorrow Advancing Life", which reflects
our vision to promote top learning opportunities for Chinese
students through both high-quality teaching and content, as well as
leading edge application of technology in the education experience.
TAL Education Group offers comprehensive tutoring services to
students from pre-school to the twelfth grade through three
flexible class formats: small classes, personalized premium
services, and online courses. Our tutoring services cover the core
academic subjects in China's
school curriculum including mathematics, English, Chinese, physics,
chemistry, and biology. The Company's learning center network
includes 594 physical learning centers as of February 28, 2018, located in 42 key cities in
China: Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Wuhan, Xi`an, Chengdu, Nanjing, Hangzhou, Taiyuan, Zhengzhou, Chongqing, Suzhou, Shenyang, Jinan, Shijiazhuang, Qingdao, Changsha, Luoyang, Nanchang, Ningbo, Wuxi, Fuzhou, Hefei, Xiamen, Lanzhou, Dalian, Changchun, Guiyang, Dongguan, Changzhou, Xuzhou, Nantong, Foshan, Zhenjiang,
Shaoxing, Yangzhou, Yantai, Wenzhou, Zhongshan and Zibo. We also
operate www.jzb.com, a leading online education platform in
China. Our ADSs trade on the New
York Stock Exchange under the symbol "TAL".
For more information, please contact:
Echo Yan
Investor Relations
TAL Education Group
Tel: +86 10 5292 6658
Email: ir@100tal.com
Caroline Straathof
IR Inside
Tel: +31 6 5462 4301
Email: info@irinside.com
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SOURCE TAL Education Group