NEW YORK, June 20, 2018 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of persons and entities that acquired TAL Education Group (“TAL” or the “Company”) (NYSE:TAL) securities between April 26, 2018 and June 13, 2018, inclusive (the “Class Period”).
Investors who have incurred losses in shares of TAL Education Group are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have incurred losses in the shares of TAL Education Group you may, no later than August 17, 2018, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in TAL Education Group.
The filed complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose:
- that the Company overstated its net income;
- that the Company’s net income was deteriorating; and
- that, as a result of the foregoing, Defendants’ statements about TAL’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
On June 13, 2018, the investment research firm, Muddy Waters, issued a report accusing the Company of issuing fraudulent profit figures by overestimating net income, net income margin, and other essential accounting figures.
On this news, shares of TAL fell from $45.65 to close at $41.11 on June 13, 2018 (a decline of $4.54, or approximately 10%).
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.
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Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
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