Kaplan Fox Investigates Tal Education Group For Potential Accounting Fraud
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NEW YORK, April 24, 2020 /PRNewswire/ — Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Tal Education Group (“TAL” or the “Company”) (NYSE: TAL). Investors who purchased TAL securities, including TAL American Depositary Receipts (ADRs), may be affected.
On April 7, 2020, after the market closed, TAL announced that the Company had discovered “certain employee wrongdoing” in connection with the Company’s routine internal auditing process. TAL discovered irregularities and violations of the Company’s business conduct and internal control policies by an employee in the Company’s newly introduced “Light Class” business. Upon such discovery, TAL immediately reported to the local police. The employee has been taken into custody by the local police. Based upon the Company’s routine internal audit, the Company suspects that the employee of question conspired with external vendors to wrongly inflate “Light Class” sales by forging contracts and other documentations.
Following this news, TAL’s shares fell $3.76 per share, or 6.74%, to close at $50.82 per share on April 8, 2020 and continued to decline the next trading day.
If you purchased TAL securities and would like to discuss our investigation, please contact us by emailing [email protected] or by calling (212) 329-8571.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this investigation, your rights, or your interests, please contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 329-8571
E-mail: [email protected]
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4700
Fax: (415) 772-4707
E-mail: [email protected]
SOURCE Kaplan Fox & Kilsheimer LLP
