NEW YORK, Jan. 03, 2017 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired American Depositary Shares of New
Oriental Education & Technology Group Inc. (NYSE:EDU) between September 27, 2016 and December 1, 2016. You are hereby
notified that a securities class action lawsuit has been commenced in the USDC for the District of New Jersey. To get more
information go to:
http://www.zlk.com/pslra/new-oriental-education-edu
or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972. There is no cost or obligation to you.
The complaint alleges that during the Class Period the Company made false and/or misleading statements and/or
failed to disclose that: (1) New Oriental engaged in college application fraud; and (2) as a result, Defendants’ statements about
New Oriental’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all
relevant times.
On December 2, 2016, Reuters reported that eight former and current New Oriental employees informed the news
outlet that the Company “engaged in college application fraud, including writing application essays and teacher recommendations,
and falsifying high school transcripts.” On this news, shares of New Oriental fell $6.99 per share from its previous closing price
to close at $42.00 per share on December 2, 2016, damaging investors.
If you suffered a loss in New Oriental you have until February 13, 2017 to request that the Court appoint you as lead plaintiff. Your
ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and
Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and
have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee
similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
