Lawsuits Filed Against ELMS, EDU and TAL – Jakubowitz Law Pursues Shareholder Claims

NEW YORK, NY/ACCESSWIRE/February 22, 2022/ Jakubowitz Law announces that a securities fraud class action lawsuit has been filed on behalf of shareholders of the following publicly traded companies who purchased stock during the class action periods listed below. Shareholders interested in representing the category of aggrieved shareholders have until the deadline of the principal plaintiff to bring their case before the court. Your ability to participate in any collection does not require you to serve as the lead plaintiff. For more details and to speak with our firm at no cost or obligation, follow the links below.

Electric Last Mile Solutions, Inc. f/k/a Forum Merger III Corp. (NASDAQ: ELMS)

CONTACT JAKUBOWITZ ABOUT ELM:
https://claimyourloss.com/securities/electric-last-mile-solutions-inc-fka-forum-merger-iii-corp-loss-submission-form/?id=23950&from=1

Course period: March 31, 2021 – February 1, 2022

Lead Applicant Deadline : April 4, 2022

The filed complaint alleges that the defendants made materially false and/or misleading statements and/or failed to disclose that: (1) financial statements previously released by ELMS 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 & Technology Group Inc. (NYSE:EDU)

CONTACT JAKUBOWITZ ABOUT EDU:
https://claimyourloss.com/securities/new-oriental-education-technology-group-inc-loss-submission-form/?id=23950&from=1

Course period: April 24, 2018 – July 22, 2021

Lead Applicant Deadline : April 5, 2022

The filed complaint alleges that the defendants made materially false and/or misleading statements and/or failed to disclose that: (a) New Oriental’s revenues and operational growth were the result of deceptive marketing tactics and business practices abuses that flouted Chinese regulations and policies and exposed the Company to 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.

Tal Education Group (NYSE: TAL)

CONTACT JAKUBOWITZ ABOUT NLP:
https://claimyourloss.com/securities/tal-education-group-loss-submission-form/?id=23950&from=1

Course period: April 26, 2018 – July 22, 2021

Lead Applicant Deadline : April 5, 2022

The filed complaint alleges that the defendants made materially false and/or misleading statements and/or failed to disclose that: (a) TAL’s revenues and operational growth were the result of deceptive marketing tactics and illicit business practices that violated Chinese laws, regulations and policies, and exposed the Company to extreme risk of more drastic measures being imposed on the Company; (b) TAL had engaged in deceptive and fraudulent advertising practices, including providing false and misleading discount information designed to hide the true cost of the Company’s programs for its customers, creating false clients designed to fraudulently lure new clients to TAL programs, misrepresenting teacher qualifications and course grades, and marketing rigged promotional events; (c) TAL had challenged Chinese policies aimed at easing the burden imposed by tutoring services on students and their families, including imposing heavy advances and recurring debt repayments on course enrollees, by offering courses designed to giving wealthy students unfair advantages, by holding classes outside authorized tutoring hours and tying for-profit classes to government-mandated education; (d) as a result of the foregoing, TAL was subject to an undisclosed tail risk of adverse enforcement action, regulatory fines and penalties, and the imposition of new rules and regulations adverse to business and financial interests of the society ; and (e) as a result of the foregoing, TAL’s historic growth was not sustainable or resulted from legitimate business tactics as depicted, and defendants’ positive statements about the businesses, operations and prospects of company were materially false and misleading and lacked a reasonable factual basis.

The Jakubowitz Act is vigorous in its pursuit of justice for shareholders who have been victims of securities fraud. Lawyer advertisement. Prior results do not guarantee similar results.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th floor
New York, New York 10036
Phone. : (212) 867-4490
Fax : (212) 537-5887

THE SOURCE : Jakubowitz’s law

See the source version on accesswire.com:
https://www.accesswire.com/689970/Lawsuits-Filed-Against-ELMS-EDU-and-TAL-Jakubowitz-Law-Pursues-Shareholders-Claims

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