LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation on behalf of TAL Education Group ("TAL Education" or the Company") (NYSE: TAL) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On April 7, 2020, TAL Education disclosed irregularities and violations of the Company's business conduct and internal control policies by an employee in the Company's newly introduced "Light Class" business. The employee allegedly conspired with external vendors to inflate "Light Class" sales by forging contracts and other documentation. For the fiscal year 2020 ended February 29, 2020, "Light Class" sales accounted for approximately 3% to 4% of the Company's total estimated revenues.
On this news, the Company's share price fell as much as 8% in intraday trading on April 8, 2020.
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If you purchased TAL Education 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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