ATLANTA, GA--(Marketwire -08/28/12)- A class action lawsuit has been filed on behalf of investors who purchased American Depository Shares of New Oriental Education & Technology Group ("New Oriental" or the "Company") (EDU) between July 21, 2009 and July 17, 2012 . The lawsuit, which was filed in the United States District Court for the Southern District of New York, alleges that New Oriental failed to adequately disclose that a substantial number of its schools and learning centers were operated by franchisees and were not owned by the Company. Further, the lawsuit alleges, among other things, that New Oriental improperly consolidated certain earnings in its financial statements and otherwise overstated its financial results.
If you purchased New Oriental ADSs between July 21, 2009 and July 17, 2012, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than September 21, 2012. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Investors who are interested in serving as lead plaintiff or who have questions concerning their legal rights may contact Michael I. Fistel, Jr., Esq. (email@example.com) or Marshall P. Dees, Esq. (firstname.lastname@example.org) by email or via toll-free telephone at (888) 508-6832.
While Holzer Holzer & Fistel, LLC has not yet filed a complaint in this matter, the firm dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.
- class action lawsuit