RADNOR, Pa.--(BUSINESS WIRE)--Kaskela Law LLC has commenced an investigation of TAL Education Group (NYSE: TAL) (“TAL” or the “Company”) on behalf of the Company’s investors. The investigation concerns whether TAL and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
TAL investors are encouraged to contact Kaskela Law LLC (David Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740 to discuss this investigation and their important legal rights and options. TAL investors who suffered an investment loss in excess of $50,000 are encouraged to submit their information to the firm for review at http://kaskelalaw.com/case/tal-education-group/.
On June 13, 2018, Muddy Waters issued a report entitled “TAL Education: A Real Business with Fake Financials,” asserting that TAL “has been fraudulently overstating its profits since at least FY2016.” Citing an extensive review of Chinese government documents, site visits, and numerous interviews, the report asserted that “TAL combines the old school China fraud playbook of simply penciling in more favorable numbers with the more sophisticated asset parking fraud of Enron.” Further according to the report, between fiscal years 2016 and 2018, TAL overstated its operating profit by at least 21.6%, its pre-tax profit by at least 39.8%, and its net income by at least 43.6%.
Following the publication of the Muddy Waters report, TAL’s shares declined $4.54 per share, or 10% in value, to close on June 13, 2018 at $41.11, on heavy trading volume.
TAL investors are encouraged to contact Kaskela Law LLC to discuss their legal rights and options. Kaskela Law LLC exclusively prosecutes shareholder actions in state and federal courts throughout the country on behalf of investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.