Trending...
- One Night. One Encounter. A New Season Of Purpose
- We are Talker Study: 64% of AI Users Have Bought From a Brand AI Introduced, as The Invisible Shortlist Reshapes Brand Discovery
- Bountiful Bowl Aims to Raise $50,000 to Support Meals on Wheels of the Greater Lehigh Valley
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
- Tampa Holiday Sessions: Captured by Mallary Opens 2026 Christmas Minis With Two New Sets
- Tampa Web Design Launches New Website for Entrepreneur and Capital Markets Advisor Martin Sumichrast
- Miami Dade College and World Affairs Council of Miami announce Navarro-Cabrera scholarship
- Bridging Canvas and Cosmos: How Bioengineer Farin DeBose Captured the Essence of "True Science"
- RPP to host first Professional Padel Week in Miami and announce the 2026 USA Awards winners
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.
0 Comments
Latest on The PennZone
- CLINIMED Becomes First Liposuction Cannula Maker to Offer 3D and AR Models of Its Cannula Range
- RAS AP Consulting Advances 1099 Education and Readiness Initiative Through IFOL Training and Finance Technology Showcase
- Heritage at Manalapan Announces New 3.875% First-Year Mortgage Rate Buydown (7.11 APR)
- Conservative Latinos for PA PAC Endorses Stacy Garrity for Governor: "Pennsylvania's Latino Families Need a Leader Who Delivers"
- AthleteMerch.com Surpasses 100,000 Custom Items Delivered to Fans Nationwide
- MoMojo Records Signs Gary Nicholson
- Steve Weclew is Appointed by STS Capital Partners as Managing Director
- Communities In Schools of Eastern Pennsylvania Honors United Way and Local Leaders
- New Finnish Affiliate Site Ilmaiskierrokset.com Puts Wager-Free Spins in the Spotlight
- Major FDA Victory; Preservative-Free Ketamine Approved Ahead of November 10 Goal Date as Commercial Launch Opportunity Comes Into Focus for NRx Pharma
- Veterans Day Breakfast Celebration in Valley Forge to Honor America's Military Heroes
- Best Black Friday 2026 Deals on Lightweight Foldable Electric Wheelchairs – Save Up to 60%
- Immerse Yourself in the Historic Tochigi Autumn Festival, Celebrated Every Two Years Since 1874
- Resident Inspect Expands Virtual Property Inspections With AppFolio and Rentvine Integrations
- Unlocking the Next Phase of Growth with New AI Innovations; Targeting 2027 as Breakeven; Revenue Momentum Accelerates: ZenaTech (N A S D A Q: ZENA)
- Dr. Marilyn Pendelton Releases The Grief Reset to Address Grief Beyond Death
- AeroNet Deploys netElastic vBNG and CGNAT with Tarana Wireless to Deliver Scalable, Fiber-Class Broadband Across Puerto Rico
- New Atlas Maps the 38 States Behind Every Conversation
- Atlanta Company Launches Free, Ad-Free, Nonpartisan Voter Planning App for All 50 States Ahead of the Nov. 3 Election
- Pastor Carlton L. Aiken Sr. Celebrates 55 Years with "Sermonic Selections"