CLASS ACTION UPDATE for ELMS, EDU and MP: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, NY/ACCESSWIRE/March 14, 2022/ Levi & Korsinsky, LLP announces that class action lawsuits have been filed on behalf of shareholders of the following publicly traded companies. Shareholders interested in serving as lead plaintiff have until the stated deadlines to apply to court. Further details of the cases can be found on the links provided. There is no cost or obligation for you.

ELMS shareholders Click here: https://www.zlk.com/pslra-1/electric-last-mile-solutions-inc-fka-forum-merger-iii-corp-loss-submission-form?prid=24626&wire=1
EDU shareholders, click here: https://www.zlk.com/pslra-1/new-oriental-education-technology-group-inc-loss-submission-form?prid=24626&wire=1
MP shareholders Click here: https://www.zlk.com/pslra-1/mp-materials-corp-fka-fortress-value-acquisition-corp-loss-submission-form?prid=24626&wire=1

*ADDITIONAL INFORMATION BELOW*

Electric Last Mile Solutions, Inc. f/k/a Forum Merger III Corp. ELM


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ELMS lawsuit on behalf of: investors who bought March 31, 2021 – February 1, 2022
Lead Applicant Deadline : April 4, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/electric-last-mile-solutions-inc-fka-forum-merger-iii-corp-loss-submission-form?prid=24626&wire=1

According to the filed Complaint, during the Class Period, Electric Last Mile Solutions, Inc. f/k/a Forum Merger III Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) the previously issued ELMS financial statements were false and unreliable; (2) the previous financial statements of ELMS would need to be restated; (3) certain officers and/or directors of ELMS have purchased shares of the Company at substantial discounts to their market value without obtaining an independent valuation; (4) on November 25, 2021 (Thanksgiving), the Board of Directors of the Company formed a special independent committee to conduct an investigation into certain sales of equity securities made by and to persons associated with the Company; and (5) therefore, defendants’ statements about its business, operations and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.

New Oriental Education and Technology Group Inc. EDU

EDU lawsuit on behalf of: investors who bought April 24, 2018 – July 22, 2021
Lead Applicant Deadline : April 5, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/new-oriental-education-technology-group-inc-loss-submission-form?prid=24626&wire=1

According to the complaint filed, during the Class Period, New Oriental Education & Technology Group Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) revenues and New Oriental’s operational growth were the result of deceptive marketing tactics and abusive business practices that flouted Chinese regulations and policies and placed the Company at extreme risk of more drastic measures being imposed on the Company; (b) New Oriental had engaged in deceptive and fraudulent advertising practices, including providing false and misleading discount information designed to conceal the true cost of the Company’s programs from its customers; (c) New Oriental falsified teachers’ qualifications and experience in order to attract clients and increase student enrollment; (d) New Oriental had defied previous government warnings against linking school enrollment to the provision of private tutoring services; (e) as a result of the foregoing, New Oriental was subject to an undisclosed tail risk of adverse enforcement actions, regulatory fines and penalties, and the imposition of new rules and regulations adverse to the business and interests of the Company; and (f) as a result of the foregoing, defendants’ positive statements regarding the Company’s business, operations and prospects were materially misleading and lacked reasonable and factual basis.

MP Materials Corp. f/k/a Fortress Value Acquisition Corp. deputy

MP Prosecution on behalf of: investors who purchased from May 1, 2020 to February 2, 2022
Lead Applicant Deadline : April 25, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/mp-materials-corp-fka-fortress-value-acquisition-corp-loss-submission-form?prid=24626&wire=1

According to the complaint filed, during the Class Period, MP Materials Corp. f/k/a Fortress Value Acquisition Corp. has made materially false and/or misleading statements and/or failed to disclose that: (i) Fortress Value Acquisition Corp. (“FVAC”) had overstated its due diligence efforts and expertise in identifying target companies for acquisition; (ii) FVAC performed inadequate due diligence on Legacy MP Materials prior to the business combination, or ignored important red flags regarding, among other things, Legacy MP Materials’ management, compliance policies and profitability of Mountain Pass; (iii) as a result, the Company’s future business and financial prospects after the business combination were overstated; (iv) MP Materials engaged in an abusive transfer pricing scheme with a related party in the People’s Republic of China to artificially inflate the Company’s profits; (v) MP Materials ore at the Mountain Pass rare earth mine and processing facility was not economically viable to harvest for rare earth metals; and (vi) as a result, the Company’s public statements were materially false and misleading at all material times.

You have until the lead plaintiff deadlines to ask the court to name you lead plaintiff. Your ability to participate in any collection does not require you to serve as the lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut and Washington DC. The firm’s attorneys have extensive expertise and experience in representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Lawyer advertisement. Prior results do not guarantee similar results.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Edward Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

THE SOURCE: Levi & Korsinsky, LLP

See the source version on accesswire.com:
https://www.accesswire.com/692879/CLASS-ACTION-UPDATE-for-ELMS-EDU-and-MP-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of- Shareholders

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