RADNOR, Pa., March 29, 2022 (GLOBE NEWSWIRE) — The law firm Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is advising investors that a securities class action lawsuit has been filed in the United States Court of District of the United States for the Southern District of New York v. TAL Education Group (“TAL”) (NYSE: TAL). The suit accuses TAL of violations of federal securities laws, including omissions and fraudulent misrepresentations regarding the company’s business, operations and prospects. As a result of TAL’s materially misleading statements to the public, TAL’s investors suffered significant losses.

Kessler Topaz is one of the world’s foremost advocates for protecting the public from corporate fraud and other wrongdoing. Our securities fraud litigants are consistently individually recognized as leaders in the field and our firm is both feared and respected within the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.

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CLICK HERE FOR SUBMIT YOUR TAL LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE INTO YOUR BROWSER: https://www.ktmc.com/tal-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=tal

PRINCIPAL APPLICANT DEADLINE: April 5, 2022

COURSE PERIOD: from April 26, 2018 to July 22, 2021

CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:
James Maro, Esq. (484) 270-1453 or Email at [email protected]

TAL’S ALLEGED MISCONDUCT
TAL provides after school K-12 tutoring services in the People’s Republic of China. Specifically, the Company provides tutoring services to K-12 students covering a variety of academic subjects, including Mathematics, Physics, Chemistry, Biology, History, Geography, Political Science, English and Chinese.

On April 25, 2021, media reported that the city of Beijing had fined four online education agencies, including TAL, the maximum fine of 500,000 yuan (about $80,000) each for misleading customers. wrong with false advertising. Specifically, regulators found that TAL’s VIE, Beijing Xueersi Education Technology Co., Ltd., misrepresented the undiscounted costs of enrolling its courses for consumers, thereby tricking customers into paying the full price for the courses they thought they were taking at a discount. Following this news, the price of TAL American Depository Shares (“ADS”) fell from $53.14 on May 11, 2021 to $46.25 on May 13, 2021, a decrease of 13% over the two-day period. .

Then, on June 1, 2021, Chinese regulators announced that they had fined 15 off-campus educational institutions, including TAL, for illegal activities such as false advertising and fraud. The offending companies, including TAL, were hit with maximum penalties for their illegal business practices, totaling 36.5 million yuan ($5.73 million). Following this news, the price of TAL ADS fell from $40.51 on June 1, 2021 to $33.27 on June 3, 2021, a drop of almost 18% over the two-day period.

Finally, on July 23, 2021, China unveiled a sweeping overhaul of its education sector, banning companies that teach the school curriculum from making a profit, raising capital, or going public. This drastic measure effectively ended any potential growth of the for-profit tutoring industry in China. Following this news, the price of TAL ADS fell from $20.52 on July 22, 2021 to just $4.40 on July 26, 2021, a drop of almost 79%.

WHAT CAN I DO?
TAL investors can, no later than April 5, 2022 seek to be named as the lead class representative plaintiff through Kessler Topaz Meltzer & Check, LLP or another attorney, or may choose to do nothing and remain an absentee class member. Kessler Topaz Meltzer & Check, LLP encourages TAL investors who have suffered significant losses to contact the company directly for more information.

CLICK HERE TO REGISTER FOR THE CASE

WHO CAN BE A PRINCIPAL APPLICANT?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead applicant is usually the investor or small group of investors who have the greatest financial interest and who are also adequate and typical of the proposed category of investors. The lead plaintiff chooses an attorney to represent the lead plaintiff and the class and those attorneys, if approved by the court, are the lead or class attorneys. Your ability to participate in any collection is not affected by whether or not to serve as lead plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP is filing class actions in state and federal courts nationwide and around the world. The company has developed a worldwide reputation for excellence and has recovered billions of dollars for victims of fraud and other malpractice. All of our work is guided by a common goal: to protect investors, consumers, employees and others from fraud, abuse, corporate and fiduciary misconduct and negligence. In the end, we were successful if the bad guys pay and you get your assets back. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
[email protected]

A video accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/8a51e041-b537-485f-b0dc-a7d0e8526708