Tarena International Inc. (NASDAQ: TEDU) stock declined by 2.19% at last close whereas the TEDU stock-price gains by 7.46% in the pre-market trading session for which there is no clear reason available, as of now. Tarena is one of China’s major providers of adult professional education and K-12 education. Tarena provides adult professional education courses in IT and non-IT disciplines through its unique education platform, which combines live distant instruction, classroom-based tutoring, and online learning modules.
The Schall Law Firm which is a statewide shareholder rights litigation firm reminds the investors that Tarena International is facing a class action lawsuit for violating Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as well as Rule 10b-5 propagated by the US Securities and Exchange Commission.
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The Schall Law Firm focuses in securities class action lawsuits and shareholder rights litigation and serves investors all around the globe. Investors who acquired Tarena International securities between August 16, 2016, and November 1, 2019, inclusive (the “Class Period”), should contact The Schall Law Firm by August 23, 2021.
In this situation, the class has not yet been certified, and you will not be represented by an attorney until it is. You can remain an absent class member if you choose not to act.
Tarena International, as per the Complaint, made inaccurate and defamatory representations to the market. Employees of Tarena deliberately obstructed audits of TEDU’s financial accounts for specific periods. Tarena International failed to keep track of its revenue and spending accurately. Tarena International made transactions with linked parties that were not fully reported in several situations. TEDU’s public statements were false and materially misleading during the class period based on these facts. Investors incurred losses once the market discovered the truth about Tarena.