LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of TAL Education Group ("TAL" or the "Company") (NYSE: TAL) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. On June 13, 2018, research firm Muddy Waters released a report on TAL alleging that the Company “has fraudulently overstated its FY2016—FY2018 results.” Muddy Waters’ report states 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.” According to the report, between fiscal year 2016 and 2018, TAL overstated operating profit by more than 21%, pre-tax profit by more than 28%, and net profit by more than 43%. Based on this news, shares of TAL fell 9.95%, or $4.54 per share, closing at $41.11 on June 13, 2018.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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