TAL Education Group (NYSE: TAL)
Hagens Berman Sobol Shapiro LLP reminds investors in TAL Education Group (NYSE: TAL) of the August 17, 2018 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the Southern District of New York.
If you purchased or otherwise acquired shares of TAL between April 26, 2018 and June 13, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information, contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing TAL@hbsslaw.com.
On June 13, 2018, an analyst published a report accusing TAL of fraudulently overstating its profits since at least fiscal year 2016. Among other things, the analyst accused the Company of overstating net income by over 40% during the last two years.
This news drove the price of TAL securities down $4.54, or about 11%, to close at $41.11 that day.
More recently, the analyst accused TAL of failing to address the report’s conclusions that reported profits are fraudulently inflated, the Company engaged in two sets of non-substantive transactions, it may have diverted funds through a straw party, and it is not disclosing a substantial compression of core business operating margins.
“We’re focused on investors’ losses and the analyst’s accusations which, if true, suggest that the Company may have seriously misled investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding TAL should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email TAL@hbsslaw.com.
Hagens Berman purchases advertisements on search engines, social media sites and other websites. Transmission of the information contained or available through this website is not intended to create, and receipt does not constitute, an attorney-client relationship. If you seek legal advice or representation by Hagens Berman, you must first enter a formal agreement. All information contained in any transmission is confidential and Hagens Berman agrees to protect information against unauthorized use, publication or disclosure. This site is regulated by the Washington Rules of Professional Conduct.