Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Tarena International, Inc. (TEDU)

BENSALEM, Pa .– (BUSINESS WIRE) – Law Offices of Howard G. Smith reminds investors of the upcoming August 23, 2021 deadline to file lead plaintiffs in the case filed on behalf of investors, Tarena International, Inc. (“Tarena” or the “Company”)) (NASDAQ: TEDU) securities between August 16, 2016 and November 1, 2019, inclusive (the “Class Period”).

Investors suffering losses on their tarenas are encouraged to contact the Howard G. Smith law firms at 888-638-4847 or email [email protected] to determine their legal rights in this class action lawsuit to discuss.

On April 30, 2019, Tarena announced that it had terminated its Annual Report for Fiscal Year 2018 due to an ongoing “review of certain issues identified during its audit of the Registrant’s financial statements for the year ended December 31, 2018, including questions related to the revenue recognition of the registrant. ”

As a result of this news, the price of Tarena’s American Depositary Shares (“ADSs”) fell 1.2% to close at $ 5.02 per ADS on May 1, 2019, hurting investors.

On May 17, 2019, the company announced that Tarena had been notified that it was not complying with NASDAQ listing rules because the 2018 annual report was not filed on time.

As a result of this news, Tarena’s ADS fell 4.8% to close at $ 3.73 per ADS on May 20, 2019, causing harm to investors.

On July 24, 2019, Tarena announced that it anticipates that fiscal year 2017 and earlier periods “may need to be adjusted and should not be relied upon until the independent audit committee’s review is complete”.

On the back of this news, Tarena’s ADS fell 4.7% and closed at $ 1.63 per ADS on July 25, 2019, causing harm to 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, spending inaccuracies and irregularities, and undisclosed transactions with related parties. Tarena further announced that it “expects the total amount of false sales reported between fiscal years 2014 to 2018 to be less than RMB 900 million, which is approximately 11.5% of the total sales previously reported by the company for that period.” .

On the back of this news, Tarena’s ADSs fell 9.4% and opened at $ 0.76 on November 4, 2019, the next trading day, adding further damage to investors.

The lawsuit filed alleges that during the class action period, defendants made materially false and / or misleading statements and failed to disclose material adverse facts about the company’s business, operations and prospects. In particular, Defendants have failed to disclose to investors that: (1) certain employees interfered with external audits of Tarena’s financial statements for certain periods of time; (2) Tarena suffered from revenue and expenditure inaccuracies; (3) Tarena has conducted business transactions with organizations owned, invested by, or controlled by Tarena employees or their family members, which in some cases have not been properly disclosed by Tarena; (4) Due to the foregoing, Tarena’s financial statements from 2014 to the end of the class action period were inaccurate; and (5) as a result, Defendants’ statements about its business, operations and prospects were materially false and misleading and / or were inadequate at all relevant times.

If you have purchased or otherwise acquired Tarena securities during the Class Action Period, you will be able to go to court no later than 23. You do not need to take any action at that time to join the Class Action; You can hire a lawyer of your choice or you can take no action and remain an absent member of the class action. If you would like to learn more about this class action lawsuit, or if you have any questions about this announcement or your rights or interests in relation to these matters, please contact Howard G. Smith, Esquire, Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by phone at (215) 638-4847, toll free at (888) 638-4847, or by email at [email protected], or visit our website at www.howardsmithlaw .com.

This press release may be viewed as a solicitation in some jurisdictions subject to applicable laws and ethical rules.