The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of TAL Education Group (NYSE: TAL) who purchased shares between April 26, 2018 and June 13, 2018. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the TAL lawsuit alleges that (1) the Company overstated its net income; (2) the Company's net income was deteriorating; and (3) as a result of the foregoing, Defendants statements about TAL's business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis. On June 13, 2018, Muddy Waters website published a report alleging that TAL has been fraudulently overstating its profits since at least the fiscal year 2016. On this news, shares of TAL Education fell from a close of $45.65 on June 12, 2018, to a close of $38.74 on June 15, 2018.
Shareholders have until August 17, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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