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 New Oriental Education & Technology Group Inc. (NYSE: EDU).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/new-oriental-education-technology-group-inc-loss-submission-form/?id=23816&from=4
The lawsuit seeks to recover losses for shareholders who purchased New Oriental between April 24, 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, New Oriental Education & Technology Group Inc. issued materially false and/or misleading statements and/or failed to disclose that: (a) New Oriental’s revenue and operational growth was the result of deceptive marketing tactics and abusive business practices that flouted Chinese regulations and policies and exposed the Company to an extreme risk that more draconian measures would be imposed on the Company; (b) New Oriental 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; (c) New Oriental had falsified teacher qualifications and experience in order to attract customers and increase student enrollments; (d) New Oriental had defied prior government warnings against linking school enrollments with the provision of private tutoring services; (e) as a result of the foregoing, New Oriental 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 interests; and (f) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially 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
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law
