LOS ANGELES, May 27, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Tarena International, Inc. ("Tarena" or the "Company") (NASDAQ: TEDU) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
This investigation focuses on whether Tarena issued misleading and/or false 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.” Tarena then announced on November 1, 2019, that its financial statements from 2014-2018 could not be relied on due to their inaccuracies, related-party transactions, and interference with the audit process. Tarena ADSs dropped by more than 9% on November 4, 2019, based on this news.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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