NEW YORK--(EON: Enhanced Online News)--Levi & Korsinsky, LLP announces that it has commenced an investigation of New Oriental Education & Technology Group Inc. (“New Oriental” or the “Company”) (NYSE:EDU) concerning possible violations of federal securities laws by the Company and/or certain of its officers and directors.
“[e]ight former and current New Oriental employees…told Reuters the firms have engaged in college application fraud, including writing application essays and teacher recommendations, and falsifying high school transcripts.”
Recently, on December 2, 2016 Reuter’s published an article revealing that New Oriental has been accused of engaging in college application fraud. The article claims that “[e]ight former and current New Oriental employees…told Reuters the firms have engaged in college application fraud, including writing application essays and teacher recommendations, and falsifying high school transcripts.” Additionally, Reuters released an update stating that due to its earlier report detailing academic fraud allegations at New Oriental, the American International Recruitment Council (“AIRC”) “will investigate the company in response to the report”, and that the AIRC’s president-elect called the allegations “highly concerning.”
Following this news, the value of New Oriental fell over 14% to close at $42.00 on December 2, 2016. To obtain additional information about the investigation, go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.