Lead Plaintiff Deadline 05/30/2023
TAL Education Group
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of those who acquired TAL Education Group (“TAL” or the “Company”) (NYSE: TAL) securities during the period from June 14, 2022 through March 14, 2023 (the “Class Period”). Investors have until May 30, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
TAL is an education and technology enterprise that provides after-school tutoring programs for primary and secondary school students.
On March 14, 2023, Seeking Alpha published an article entitled “TAL Education, Chinese ed-tech stocks slump on crackdown fears,” stating Chinese media reports revealed the Company potentially ignored government regulations. The article stated in relevant part that “TAL subsidiary Xueersi restarted courses that run counter to conventions put in place by Xi Jinping’s Common Prosperity drive. Specifically, courses were restarted in subjects like mathematics and English under the guise of permitted tutoring outside of core subjects.” On this news, the price of TAL shares declined by $0.68 per share, or approximately 10.00%, from $6.80 per share to close at $6.12 on March 14, 2023.
The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose that: (i) the Company was still providing K9 Academic AST Services; and (ii) as a result, TAL’s statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.