BEIJING, Nov. 27, 2017 /PRNewswire/ -- RYB Education, Inc.
("RYB" or the "Company") (NYSE: RYB), a leading early childhood
education service provider in China, issued an update following the local
police authority's release of two reports on November 25, 2017 regarding the investigation of
the case described in RYB's press release issued on November 24, 2017.
According to one police report, a 22-year-old female teacher at
the RYB-operated kindergarten in question was detained as a
criminal suspect for maltreatment of children in the facility, and
the police investigation is continuing.
The other police report stated that an individual spread
fabricated and untrue information about child abuse at the
kindergarten by military personnel through social media channels,
causing a significant and adverse impact on the general public.
According to the police report, this individual remains in police
detention and has confessed her unlawful conduct and expressed
remorse for the harm she has caused. The police report does
not address the individual's motive in disseminating this
materially false and misleading information regarding the
Company.
The Company is deeply saddened by the alleged maltreatment
towards children by the RYB teacher, and extends its apologies to
all of RYB's parents, children, and the public for the negative
impact resulting from this incident. RYB will continue to uphold
its duty as a socially responsible education service provider and
is in the process of implementing the following remediation
steps:
- Dismiss the accused teacher and remove the facility principal
from her position, effective immediately, and continue to enforce
its zero-tolerance policy towards unethical or illegal behavior
throughout all of its facilities;
- Perform a thorough self-inspection across all RYB teaching
facilities and review and inspect all practices in these
facilities, through a special task force led by the independent
directors of the Company;
- Implement a comprehensive upgrade of security and surveillance
systems and put in place a system of third-party supervision to
ensure accountability and transparency;
- Communicate with concerned parents and use its best efforts to
prevent and minimize any harm to their children. The Company will
enlist help from doctors and psychiatrists to care for any children
who may have been affected by this incident and provide them with
counseling and other necessary medical care;
- Assign additional experienced RYB teaching staff and management
team to the affected RYB kindergarten to minimize disruption to
this kindergarten and the children's education; and
- Offer full cooperation to the government authorities in
connection with the investigation.
RYB remains fully committed to the safety and happiness of each
and every child who is enrolled in RYB kindergartens and will
continue to seek to implement best practices commensurate with its
status as a leading early childhood education service provider in
China.
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. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements.
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 growth strategies; its future business development,
results of operations and financial condition; trends and
competition in China's early
childhood education market; changes in its revenues and certain
cost or expense items; the expected growth of the Chinese early
education market; Chinese governmental policies relating to the
Company's industry and general economic conditions in China. Further information regarding these and
other risks is included in the Company's filings with the SEC. All
information provided in this press release and in the attachments
is as of the date of this press release, and the Company undertakes
no obligation to update any forward-looking statement, except as
required under applicable law.
About RYB Education, Inc.
Founded on the core values of "Care" and "Responsibility," RYB
Education, Inc. is a leading early childhood education service
provider in China. Since opening
its first play-and-learn center in 1998, the Company has grown and
flourished with the mission to provide individualized
age-appropriate education to stimulate and nurture children so they
can realize their full potential. During its nearly two decades of
operating history, the Company has built "RYB" into a
well-recognized education brand and helped bring about many new
educational practices in China's
early childhood education industry. RYB's comprehensive early
childhood education solutions meet the needs of children from
infancy to six years old through structured courses at
kindergartens and play-and-learn centers, as well as at-home
educational products and services.
For investor and media inquiries, please contact:
In China:
RYB Education, Inc.
Investor Relations
Tel: 86-10-8767-5752
E-mail: ir@rybbaby.com
The Piacente Group, Inc.
Ross Warner
Tel: +86 (10) 5730-6200
E-mail: ryb@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Alan Wang
Tel: +1-212-481-2050
E-mail: ryb@tpg-ir.com
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SOURCE RYB Education, Inc.