Cases
TAL Education Group (TAL)
Securities Class Action
Overview
Overview
- Date:
- 6/19/2018
- Company Name:
- TAL Education Group
- Stock Symbol:
- TAL
- Class Period:
- FROM 4/26/2018 TO 6/13/2018
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern District of New York
NEW YORK, June 19, 2018 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired TAL Education Group (NYSE: TAL) securities between April 26, 2018 and June 13, 2018 (the “Class Period”). Investors have until August 17, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the TAL’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company overstated its net income; (2) that the Company's net income was deteriorating; and (3) 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. The complaint claims that when the truth was revealed to the market, investors suffered damages.
On June 13, 2018, short-seller, Muddy Waters Research, released a report claiming that TAL Education fraudulently overstated its profits, net income margin, and other accounting figures for at least two years. Following this news, shares of TAL Education fell from $45.65 on June 12, 2018 to close at $38.74 on June 15, 2018.
If you purchased TAL Education Group securities during the Class Period or continue to hold shares purchased before the Class Period, have information, 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 Fortunato 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.
The complaint alleges that Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the TAL’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company overstated its net income; (2) that the Company's net income was deteriorating; and (3) 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. The complaint claims that when the truth was revealed to the market, investors suffered damages.
On June 13, 2018, short-seller, Muddy Waters Research, released a report claiming that TAL Education fraudulently overstated its profits, net income margin, and other accounting figures for at least two years. Following this news, shares of TAL Education fell from $45.65 on June 12, 2018 to close at $38.74 on June 15, 2018.
If you purchased TAL Education Group securities during the Class Period or continue to hold shares purchased before the Class Period, have information, 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 Fortunato 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.