Press release
New Oriental Education & Technology Group Inc. (NYSE: EDU) Long Term Investor Notice: Investigation over possible Wrongdoing
An investigation on behalf of current long term investors in New Oriental Education & Technology Group Inc. (NYSE: EDU) shares.
Investors who are current long term investors in New Oriental Education & Technology Group Inc. (NYSE: EDU) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NYSE: EDU stocks follows a lawsuit filed against New Oriental Education & Technology Group Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: EDU stocks, concerns whether certain New Oriental Education & Technology Group Inc. directors are liable in connection with the allegations made in that lawsuit.
On February 4, 2022, a lawsuit was filed against New Oriental Education & Technology Group Inc. over alleged Securities Laws Violations. The plaintiff claims that between April 24, 2018 and July 22, 2021 the defendants made false and misleading statements and failed to disclose that 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 New Oriental to an extreme risk that more draconian measures would be imposed on New Oriental, that 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 New Oriental's programs to its customers, that New Oriental had falsified teacher qualifications and experience to increase student enrollments, that New Oriental had defied prior government warnings against linking school enrollments with the provision of private tutoring services, that as a result, 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 New Oriental's business and interests, that the new rules, regulations, and policies to be implemented by the Chinese government following the Two Sessions parliamentary meetings were far more severe than represented to investors by defendants and in fact posed an existential threat to New Oriental and its business, and that consequently, defendants' positive statements about New Oriental's business, operations, and prospects were materially misleading and lacked a reasonable factual basis.
Those who purchased shares of New Oriental Education & Technology Group Inc. (NYSE: EDU) have certain options and should contact the Shareholders Foundation.
Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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