NEW YORK, Aug. 3, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. reminds investors of the September 21, 2012 lead plaintiff deadline in the class action lawsuit on behalf of purchasers of New Oriental Education & Technology Group, Inc. (NYSE:EDU) shares between July 21, 2009 and July 17, 2012, inclusive.
To join the New Oriental Education class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com for information on the class action.
The Complaint asserts violations of the federal securities laws against the Company and certain of its executive officers for issuing materially false and misleading financial information about the Company's true financial condition. Namely, the Complaint asserts that; (1) the Company improperly consolidated a subsidiary's financial results in the Company's financial statements filed with the SEC; (2) the Company misstated the true ownership its store network as the Company has numerous franchisees; (3) certain franchise fees were inflated; (4) schools that conduct the Company's operations are state property; and (5) that, as a result the Company's financial statements filed with the SEC were materially false and misleading. The Complaint alleges that when this adverse information entered the market, the value of the Company's securities dropped, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than September 21, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com. You may also visit the firm's website at http://rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.