NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of Illinois on behalf of all persons or entities who purchased or otherwise acquired New Oriental Education & Technology Group Inc. (NYSE:EDU) securities between September 27, 2016 and December 1, 2016 (the “Class Period”).
New Oriental provides private educational services in China. The lawsuit alleges that throughout the Class Period, New Oriental was engaged in college application fraud.
On December 2, 2016, Reuters reported that it was informed by former and current New Oriental employees that New Oriental “engaged in college application fraud, including writing application essays and teacher recommendations, and falsifying high school transcripts.” Reuters also reported that the American International Recruitment Council will investigate the company.
Following this news, New Oriental shares declined $6.99 per share on December 2, 2016 to close at $42.00.
If you purchased or otherwise acquired New Oriental securities during the Class Period and suffered a loss, 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 J. Brandon Walker, Esq. by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information, please go to www.bespc.com.