Cases
New Oriental Education (NYSE: EDU)
Securities Class Action
Overview
Overview
- Date:
- 12/16/2016
- Company Name:
- New Oriental Education
- Stock Symbol:
- EDU
- Class Period:
- FROM 9/27/2016 TO 12/1/2016
- Status:
- Closed/Complete
- Court:
- U.S. Bankruptcy Court: District of New Jersey
NEW YORK, December 16, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the New Jersey District Court on behalf of all persons or entities who acquired the New Oriental Education (NYSE: EDU) securities between September 27, 2016 to December 1, 2016 (the “Class Period”).
Reuters published an article December 2, 2016 revealing that New Oriental has been accused of engaging in college application fraud. The article states, "[e]ight former and current New Oriental employees…told Reuters the firms have engaged in college application fraud, including writing application essays and teacher recommendations, and falsifying high school transcripts." The same day, Reuters released an update claiming that, due to its earlier report detailing academic fraud allegations at New Oriental, the American International Recruitment Council ("AIRC") "will investigate the company in response to the report", and the AIRC's president-elect called the allegations "highly concerning." When this information was released to the public, the value of New Oriental fell sharply on December 2, 2016, causing investors serious harm.
If you acquired New Oriental Education securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
Reuters published an article December 2, 2016 revealing that New Oriental has been accused of engaging in college application fraud. The article states, "[e]ight former and current New Oriental employees…told Reuters the firms have engaged in college application fraud, including writing application essays and teacher recommendations, and falsifying high school transcripts." The same day, Reuters released an update claiming that, due to its earlier report detailing academic fraud allegations at New Oriental, the American International Recruitment Council ("AIRC") "will investigate the company in response to the report", and the AIRC's president-elect called the allegations "highly concerning." When this information was released to the public, the value of New Oriental fell sharply on December 2, 2016, causing investors serious harm.
If you acquired New Oriental Education securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.