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 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 Brandon Walker or Melissa Fortunato 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 concerning the TAL Education Group lawsuit, please go to https://bespc.com/tal/. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.