Trending...
- Still Using Ice? FrostSkin Reinvents Hydration
- Cold. Clean. Anywhere. Meet FrostSkin
- Don't Get Burned by High Heater Prices in Philly This Winter!
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Tarena International, Inc. ("Tarena" or the "Company") (NASDAQ: TEDU) investors concerning the Company's possible violations of federal securities laws.
On April 30, 2019, Tarena revealed that it could not timely file its fiscal 2018 annual report due to an ongoing "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."
On this news, Tarena's American Depository Shares ("ADSs") price fell 1.2%, to close at $5.02 per ADS on May 1, 2019, thereby damaging investors.
On May 17, 2019, the Company disclosed that it was notified Tarena was not in compliance with NASDAQ listing rules due to the failure to timely file its 2018 annual report.
On this news, Tarena's ADSs fell 4.8%, to close at $3.73 per ADS on May 20, 2019, thereby damaging investors.
On July 24, 2019, Tarena disclosed that it expected that fiscal 2017 and prior periods "may need to be restated and should not be relied upon, pending the completion of the Independent Audit Committee Review."
More on The PennZone
On this news, Tarena's ADSs fell 4.7%, to close at $1.63 per ADS on July 25, 2019, thereby damaging investors.
Finally, on November 1, 2019, Tarena announced the results of its investigation, including a list of revenue inaccuracies for fiscal years 2014 through 2018, expense inaccuracies and irregularities, and undisclosed related party transactions. Tarena further disclosed that it "anticipates that the total amount of revenue misstatement between fiscal years 2014 through 2018 to be less than RMB900 million, representing approximately 11.5% of the total revenue previously reported by the Company for such period."
On this news, Tarena's ADSs dropped 9.4%, to open on November 4, 2019, the next trading day, at $0.76, thereby damaging investors further.
If you purchased the Company's ADSs, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
On April 30, 2019, Tarena revealed that it could not timely file its fiscal 2018 annual report due to an ongoing "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."
On this news, Tarena's American Depository Shares ("ADSs") price fell 1.2%, to close at $5.02 per ADS on May 1, 2019, thereby damaging investors.
On May 17, 2019, the Company disclosed that it was notified Tarena was not in compliance with NASDAQ listing rules due to the failure to timely file its 2018 annual report.
On this news, Tarena's ADSs fell 4.8%, to close at $3.73 per ADS on May 20, 2019, thereby damaging investors.
On July 24, 2019, Tarena disclosed that it expected that fiscal 2017 and prior periods "may need to be restated and should not be relied upon, pending the completion of the Independent Audit Committee Review."
More on The PennZone
- $36 Million LOI to Acquire High Value Assets from Vivakor Inc in Oklahoma's STACK Play — Building Cash Flow and Scalable Power Infrastructure; $OLOX
- Kobie Wins for AI Innovations in the 2026 Stevie® Awards for Sales & Customer Service
- Author Jeff Bogle to Host Street Cats Mediterranean Cruise Featuring Cat Behaviorist Molly DeVoss
- Berman | Sobin | Gross LLP Celebrates 35 Years of Advocating for Maryland's Injured Workers and Families
- Art of Whiskey Hosts 3rd Annual San Francisco Tasting Experience During Super Bowl Week
On this news, Tarena's ADSs fell 4.7%, to close at $1.63 per ADS on July 25, 2019, thereby damaging investors.
Finally, on November 1, 2019, Tarena announced the results of its investigation, including a list of revenue inaccuracies for fiscal years 2014 through 2018, expense inaccuracies and irregularities, and undisclosed related party transactions. Tarena further disclosed that it "anticipates that the total amount of revenue misstatement between fiscal years 2014 through 2018 to be less than RMB900 million, representing approximately 11.5% of the total revenue previously reported by the Company for such period."
On this news, Tarena's ADSs dropped 9.4%, to open on November 4, 2019, the next trading day, at $0.76, thereby damaging investors further.
If you purchased the Company's ADSs, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Filed Under: Business
0 Comments
Latest on The PennZone
- Smallville, Sailor Moon, Reno 911! Stars Added To FAN EXPO Philadelphia Lineup, May 29-31
- FDA Meeting Indicates a pivotal development that could redefine the treatment landscape for suicidal depression via NRx Pharmaceuticals: $NRXP
- $2.7 Million 2025 Revenue; All Time Record Sales Growth; 6 Profitable Quarters for Homebuilding Industry: Innovative Designs (Stock Symbol: IVDN)
- Beyond Spots & Dots Commits $50,000 to Penn State University Communications Students
- CCHR: Decades of Warnings, Persistent Inaction; Studies Raise New Alarms on Psychiatric Drug Safety
- PRÝNCESS Builds Anticipation With "My Nerves" — A Girls-Girl Anthem
- Arbutus Medical Raises C$9.3M to Accelerate Growth of Surgical Workflow Solutions Outside the OR
- From Sleepless Nights to Sold-Out Drops: Catch Phrase Poet's First Year Redefining Motivational Urban Apparel
- Cold. Clean. Anywhere. Meet FrostSkin
- How Specialized Game Development Services Are Powering the Next Wave of Interactive Entertainment
- Brain Drain Unlimited Strengthens Legal Advocacy with Advanced Training from Villanova University
- Don't Settle for a Lawyer Who Just Speaks Spanish. Demand One Who Understands Your Story
- Dan Williams Promoted to Century Fasteners Corp. – General Manager, Operations
- Ski Johnson Inks Strategic Deals with Three Major Food Chain Brands
- NIL Club Advances Agent-Free NIL Model as Oversight Intensifies Across College Athletics
- Pallet Company Partners with Internet Marketing Company
- Atlanta Magazine Names Dr. Rashad Richey One of Atlanta's Most Influential Leaders in 2026 as the FIFA World Cup Approaches
- Apostle Margelee Hylton Announces the Release of Third Day Prayer
- Slotozilla Reports Strong Q4 Growth and Sigma Rome Success
- "Lights Off" and Laughs On: Joseph Neibich Twists Horror Tropes in Hilariously Demonic Fashion