BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf TAL Education Group
("TAL Education" or the Company") (NYSE: TAL) investors concerning the Company and its officers’ possible violations of federal securities laws.
On April 7, 2020, TAL Education disclosed 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. The employee allegedly conspired with external vendors to inflate "Light Class" sales by forging contracts and other documentation. For the fiscal year 2020 ended February 29, 2020, "Light Class" sales accounted for approximately 3% to 4% of the Company's total estimated revenues.
On this news, the Company's share price fell as much as 8% in intraday trading on April 8, 2020.
If you purchased TAL Education securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.