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The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Tarena International, Inc. ("Tarena" or "the Company") (NASDAQ: TEDU) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Tarena filed a Form NT 20-F Notification of inability to timely file a Form 20-F for the fiscal year ended December 31, 2018 with the SEC on April 30, 2019. According to the Company, the delay in filing was caused by "the independent audit committee of the registrant’s board of directors [. . .] conducting a review of certain issues identified during the course of the audit of the registrant’s financial statements for the year ended December 31, 2018, including issues related to the registrant's revenue recognition." The Company then announced on November 1, 2019, that its financial statements from 2014-2018 could not be relied on due to inaccuracies, related-party transactions, and interference with the audit process. Based on this news, Tarena ADSs dropped by more than 9% on November 4, 2019.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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