SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of TAL Education Group (TAL)
NEW YORK, June 14, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of TAL Education Group ("TAL" or the "Company") (NYSE: TAL). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/tal.
The investigation concerns whether TAL and certain of its officers and/or directors have violated federal securities laws.
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 asserts 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." Per the report's estimate, 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 publication of the Muddy Waters report, TAL's American depositary receipt price fell sharply during intra-day trading on June 13, 2018.
If you are aware of any facts relating to this investigation, or purchased TAL shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/tal. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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