SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of TAL Education Group - TAL
NEW YORK
May 30, 2023
Robert S. Willoughby [email protected]The investigation concerns whether TAL and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On March 14, 2023, Seeking Alpha published an article entitled "TAL Education, Chinese ed-tech stocks slump on crackdown fears", reporting that "Chinese media reports indicated the company may have flouted government regulations." The article further reported that "TAL subsidiary Xueersi restarted courses that run counter to conventions put in place by Xi Jinping's Common Prosperity drive. Specifically, courses were restarted in subjects like mathematics and English under the guise of permitted tutoring outside of core subjects. Under the 'Double Reduction Policy', tutoring in core subjects must be offered as a strictly non-profit business."
On this news, TAL's American Depositary Receipt ("ADR") price fell $0.68 per ADR, or 10%, to close at $6.12 per ADR on March 14, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
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