NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired RYB Education, Inc. (NYSE:RYB) securities between September 24, 2017 and November 22, 2017 (the “Class Period”). Investors have until January 26, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On November 24, 2017, several news outlets reported that Beijing police were investigating claims of child abuse at a kindergarten run by RYB in Beijing’s Chaoyang district. The state-run Xinhua news agency reported they were checking allegations that children were “reportedly sexually molested, pierced by needles and given unidentified pills”. Following this news, the price of RYB ADRs fell $10.28 per share, or over 38%, to close at $16.45 per share on November 24, 2017.
The complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) RYB failed to establish safety policies to prevent sexual abuse from occurring at its schools; (ii) RYB's failure to remedy problems within its system exposed children to harm and unreasonable risk of harm while in the Company's care; and (iii) as a result of the foregoing, RYB securities traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.
If you purchased or otherwise acquired RYB securities during the Class Period and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the RYB Education, Inc. lawsuit, please go to http://www.bespc.com/rybeducation. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.
