Nationally Ranked Litigation Firm Labaton Sucharow Announces Investigation of TAL Education Group (TAL) & Strongly Encourages...
April 13 2020 - 10:21AM
Business Wire
Labaton Sucharow LLP, a leading and award winning investor
rights law firm, announces it is developing a proprietary
investigation concerning potential securities claims on behalf of
shareholders of TAL Education Group (Ticker: TAL) resulting from
allegations that TAL may have issued materially misleading business
information to the investing public.
TAL is a leading K-12 after-school tutoring services provider in
China.
On April 7, TAL announced that there was certain employee
wrongdoing discovered in the Company’s routine internal auditing
process. TAL discovered irregularities and violations of the
Company’s business conduct and internal control policies by an
employee in the Company’s newly introduced "Light Class" business.
Upon such discovery, TAL immediately reported to the local police.
The employee has been taken into custody by the local police.
Based upon the Company's routine internal audit, the Company
suspects that the employee of question conspired with external
vendors to wrongly inflate "Light Class" sales by forging contracts
and other documentations. For the fiscal year 2020 ended February
29, 2020, "Light Class" sales accounted for approximately 3% to 4%
of the Company's total estimated revenues.
Pre-market today, TAL stock is trading down nearly 10%.
If you are a shareholder or option holder that suffered losses
in TAL, and wish to participate, learn more, or discuss the issues
surrounding the investigation, please contact David J. Schwartz
using the toll free number (800) 321-0476 or via email at
dschwartz@labaton.com or recover@labaton.com.
About the Firm
Labaton Sucharow LLP is one of the world’s leading complex
litigation firms representing clients in securities, antitrust,
corporate governance and shareholder rights, and consumer
cybersecurity and data privacy litigation. Labaton Sucharow has
been recognized for its excellence by the courts and peers, and it
is consistently ranked in leading industry publications. Offices
are located in New York, NY, Wilmington, DE, and Washington, D.C.
More information about Labaton Sucharow is available at
http://www.labaton.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200413005282/en/
David J. Schwartz (800) 321-0476 dschwartz@labaton.com or
recover@labaton.com
Tal Education (NYSE:TAL)
Historical Stock Chart
From Aug 2024 to Sep 2024
Tal Education (NYSE:TAL)
Historical Stock Chart
From Sep 2023 to Sep 2024