PR Newswire
NEW YORK, Feb. 18, 2022 /PRNewswire/ — Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Tal Education Group (NYSE: TAL).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/tal-education-group-loss-submission-form/?id=23817&from=4
The lawsuit seeks to recover losses for shareholders who purchased TAL between April 26, 2018 and July 22, 2021.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until April 5, 2022 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
According to a filed complaint, Tal Education Group issued materially false and/or misleading statements and/or failed to disclose that: (a) TAL’s revenue and operational growth was the result of deceptive marketing tactics and illicit business practices that flouted Chinese laws, regulations and policies, and exposed the Company to an extreme risk that more draconian measures would be imposed on the Company; (b) TAL had engaged in misleading and fraudulent advertising practices, including the provision of false and misleading discount information designed to obfuscate the true cost of the Company’s programs to its customers, the creation of fake customer reviews designed to fraudulently lure new customers to TAL programs, the misrepresentation of teacher qualifications and course qualities, and the marketing of rigged promotional events; (c) TAL had defied Chinese policies designed to alleviate the burden imposed by tutoring services on students and their families, including by imposing hefty advances and recurring debt payments on course enrollees, by offering courses designed to give affluent students unfair advantages, by holding courses outside of allowable tutoring hours, and by linking for-profit courses to government-mandated schooling; (d) as a result of the foregoing, TAL was subject to an extreme undisclosed risk of adverse enforcement actions, regulatory fines and penalties, and the imposition of new rules and regulations adverse to the Company’s business and financial interests; and (e) as a result of the foregoing, TAL’s historical growth was not sustainable or the result of legitimate business tactics as represented, and defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and lacked a reasonable factual basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
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9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law
