NEW
YORK, Feb. 25, 2022 /PRNewswire/
-- Jakubowitz Law announces that a securities fraud class
action lawsuit has commenced on behalf of shareholders of New
Oriental Education & Technology Group Inc. (NYSE: EDU).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/new-oriental-education-technology-group-inc-loss-submission-form/?id=24014&from=4
The lawsuit seeks to recover losses for shareholders who
purchased New Oriental between April 24,
2018 and July 22, 2021.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
April 5, 2022 to petition the
court. Your ability to share in any recovery doesn't require that
you serve as a lead plaintiff.
According to a filed complaint, New Oriental Education &
Technology Group Inc. issued materially false and/or misleading
statements and/or failed to disclose that: (a) New Oriental's
revenue and operational growth was the result of deceptive
marketing tactics and abusive business practices that flouted
Chinese regulations and policies and exposed the Company to an
extreme risk that more draconian measures would be imposed on the
Company; (b) New Oriental had engaged in misleading and fraudulent
advertising practices, including the provision of false and
misleading discount Information designed to obfuscate the true cost
of the Company's programs to its customers; (c) New Oriental had
falsified teacher qualifications and experience in order to attract
customers and increase student enrollments; (d) New Oriental had
defied prior government warnings against linking school enrollments
with the provision of private tutoring services; (e) as a result of
the foregoing, New Oriental was subject to an extreme undisclosed
risk of adverse enforcement actions, regulatory fines and
penalties, and the imposition of new rules and regulations adverse
to the Company's business and interests; and (f) as a result of the
foregoing, defendants' positive statements about the Company's
business, operations, and prospects were materially misleading and
lacked a reasonable, factual basis.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law