An investigation on behalf of current long term investors in New Oriental Education & Technology Group Inc. (NYSE:EDU) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 06/02/2022 -- An investigation was announced for current long-term investors in shares of New Oriental Education & Technology Group Inc. (NYSE: EDU) concerning potential breaches of fiduciary duties by certain directors and officers of New Oriental Education & Technology Group Inc.
Investors who are investors in New Oriental Education & Technology Group Inc. (NYSE: EDU) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: EDU stocks follows a lawsuit filed against New Oriental Education & Technology Group Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: EDU stocks, concerns whether certain New Oriental Education & Technology Group Inc. directors are liable in connection with the allegations made in that lawsuit.
On February 4, 2022, a lawsuit was filed against New Oriental Education & Technology Group Inc. over alleged Securities Laws Violations. The plaintiff claims that between April 24, 2018 and July 22, 2021 the defendants made false and misleading statements and failed to disclose that New Oriental's revenue and operational growth was the result of deceptive marketing tactics and abusive business practices that flouted Chinese regulations and policies and exposed New Oriental to an extreme risk that more draconian measures would be imposed on New Oriental, that New Oriental had engaged in misleading and fraudulent advertising practices, including the provision of false and misleading discount information designed to obfuscate the true cost of New Oriental's programs to its customers, that New Oriental had falsified teacher qualifications and experience to increase student enrollments, that New Oriental had defied prior government warnings against linking school enrollments with the provision of private tutoring services, that as a result, New Oriental was subject to an extreme undisclosed risk of adverse enforcement actions, regulatory fines and penalties, and the imposition of new rules and regulations adverse to New Oriental's business and interests, that the new rules, regulations, and policies to be implemented by the Chinese government following the Two Sessions parliamentary meetings were far more severe than represented to investors by defendants and in fact posed an existential threat to New Oriental and its business, and that consequently, defendants' positive statements about New Oriental's business, operations, and prospects were materially misleading and lacked a reasonable factual basis.
Those who purchased shares of New Oriental Education & Technology Group Inc. (NYSE: EDU) have certain options and should contact the Shareholders Foundation.
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