Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In New Oriental Education & Technology Group Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at New Oriental Education & Technology Group Inc. (“New Oriental” or the “Company”) (NYSE:EDU).
The investigation focuses on whether the Company and its executives violated federal securities laws. Specifically, on December 2, 2016, Reuters published an article revealing that New Oriental, China’s biggest private educator, had been accused of engaging in college application fraud.
The article states that “[e]ight former and current New Oriental employees…told Reuters the firms have engaged in college application fraud, including writing application essays and teacher recommendations, and falsifying high school transcripts.” Subsequently, Reuters published another article announcing that in the wake of its aforementioned report regarding New Oriental, the American International Recruitment Council (“AIRC”) stated that it “will investigate the company in response to the report”, and the AIRC’s president-elect called the allegations “highly concerning.”
On this news, New Oriental’s share price fell from $48.99 per share on December 1, 2016 to a closing price of $42.00 on December 2, 2016 —a $6.99 or a 14.27% drop.
If you invested in New Oriental’s stock or options and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding New Oriental’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.
* The submission of this form does not create an attorney-client relationship.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.