LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of New Oriental Education & Technology Group Inc. (“New Oriental” or the “Company”) (NYSE: EDU) investors concerning the Company and its officers’ possible violations of federal securities laws.
On December 2, 2016, Reuters issued an article alleging that New Oriental has been accused of conducting college application fraud. According to the article, several 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 American International Recruitment Council ("AIRC") issued a statement later that day announcing that it would conduct its own investigation in regards to the allegations put forth in the Reuters article. AIRC's president-elect called the report "highly concerning."
On this news, shares of New Oriental fell over 14% per share on December 2, 2016.
If you purchased New Oriental securities, 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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