Trending...
- People & Stories/Gente y Cuentos Welcomes Two New Trustees as Organization Enters 54th Year and Expands Community Reach
- Sidow Sobrino, the One and Only World's No.1 Superstar®, Launches Dangerous Joy
- With a Dream and a Team, Monalisa Okojie Is Empowering the Next Generation Through EXPOSE NGO
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
- Pediatrician Launches "Confessions of a Detective Doctor" Children's Book Series
- Integrated Maintenance Platforms Are Transforming Aircraft Operations
- T. Jones Group's Cameron Jones Serves as Judge for the 2026 CHBA National Awards for Housing Excellence
- Derek Advanced Tracking Systems Revolutionizes Asset Monitoring with Advanced Technology
- The AI Direction Deficit: TripleTen Study Finds Staff Get Told to Use AI — But Not Trained to Use It
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
- SRK Collective Media Group Launches with a Modern Approach to Media, Authority Building, and Cultural Visibility
- MSBG Corporation Acquires GridWatch US Telemetry Automation System
- TAYP Expands Athlete Exposure Platform Beyond Georgia With New Push Into Virginia and the 757
- KT Medical Staffing Expands Concierge Nursing and Private Duty Nursing Services in Orange County
- The Millennium Alliance Achieves Great Place To Work® Certification™ Amid Continued Growth
- The Millennium Alliance Appoints Former Adweek Executive Eric Hayden Shakun as Chief Financial Officer to Accelerate Next Phase of Growth
- T. Jones Group Named Finalist Across Multiple Categories at the 2026 Georgie Awards
- Circa 1825-1835 Columbia / Eagle flask sells for a record $177,840 in Glass Works Auctions' online auction held May 4th
- The Simplest Small Business You're Probably Not Thinking About
- San Francisco Writer Wins Webby Award, Internet's Highest Honor, for Website Based on her Novel
- EDC Weekend Comedy Special Featuring Don Barnhart & Friends — Use Promo Code FRIEND for 50% Off
- N Y S E: OTH Off The Hook YS Is Building a Vertically Integrated Marine Empire — And Investors Are Starting to Notice
- Concierge Title Agency Merges with Independence Title, Inc. to Deliver an Expanded Concierge Closing Experience Across South Florida
- Together We Dance Foundation Steps Up for Family in Need of Safe Transportation
- Grow My Security Company Launches Next-Generation Website and Expands Strategic Marketing Solutions for the Security Industry
- $4.8M in Contracted AI Revenue with Projections of $30M Over 6-12 Months for Diversified AI Software and Platform-Based Services Provider XMax Inc
- Michelangelo's Great Secret Hiding in Plain Sight
- Virginia Marchese's Paradox: A Nation Still Deciding Who Belongs Examines Race, Migration, Law, and America's Unfinished Struggle for Equality
- From Blank Page to Published Book
- Larry R. Wasion's Jump Gate III RoadMaker Blends Cutting-Edge Sci-Fi with High-Stakes Space Exploration and Complex Technologies