SAN DIEGO, June 13, 2018 /PRNewswire/ -- Johnson Fistel, LLP, a shareholder rights law firm, is investigating potential claims on behalf of investors of TAL Education Group (NYSE: TAL). TAL provides K-12 after-school tutoring services in the People's Republic of China.
On June 13, 2018, Carson Block, Chief Investment Officer at Muddy Waters, discussed a recent TAL research report on Bloomberg. This report declared that TAL "has been fraudulently overstating its profits since at least FY2016." The report referred to a broad review of Chinese government documents. According to the report, between fiscal years 2016 and 2018, TAL overstated its operating profit by at least 21.6%, its pre-tax profit by at least 39.8% and its net income by at least 43.6%. The Muddy Waters report is entitled "TAL Education: A Real Business with Fake Financials. Following the news, TAL stock fell 9.95% on June 13, 2018.
If you recently purchased TAL stock and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) by email or by phone at 619-814-4471. If you email, please include your phone number.
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SOURCE Johnson Fistel, LLP