BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming May 30, 2023 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased TAL Education Group (“TAL” or the “Company”) (NYSE: TAL) American Depository Shares (“ADSs”) between June 14, 2022 and March 14, 2023, inclusive (the “Class Period”).
Investors suffering losses on their TAL investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On March 14, 2023, an article was published on Seeking Alpha that alleged, among other things, that TAL’s subsidiary, Xueersi, had offered courses that “run counter to conventions put in place by Xi Jinping’s Common Prosperity drive.” Specifically, courses in mathematics and English, which are considered core subjects and must be offered as a strictly non-profit business, were restarted “under the guise of permitted tutoring outside of core subjects.”
On this news, TAL’s stock price fell $0.91, or 13.4%, over two consecutive trading days, to close at $5.89 per ADS on March 15, 2023, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company was still providing K9 Academic AST Services; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired TAL ADSs during the Class Period, you may move the Court no later than May 30, 2023 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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