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New York, July 28, 2021 (Global News Agency)-Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that it has represented Tarena International, Inc. (NASDAQ:Taidu), Orphazyme A/S (Nasdaq stock code:ORPH), Didi Global Corporation (NYSE stock code:DIDI) And CorMedix Inc. (NASDAQ:Customer Relationship Management System). Shareholders must apply to the court to be the lead plaintiff before the following deadline. Additional information about each case can be found in the links provided.
Tarrena International (NASDAQ:Taidu)
Class time: August 16, 2016 to November 1, 2019
Deadline for lead plaintiff: August 23, 2021
On April 30, 2019, the company filed an NT 20-F form notice with the US Securities and Exchange Commission stating that it was unable to file the 20-F form for the fiscal year ending December 31, 2018 in a timely manner.The company stated that the delay in filing Form 20-F was partly due to “the independent audit committee of the board of directors of the registrant [. . .] Review certain issues found during the audit of the registrant’s financial statements for the year ended December 31, 2018, including issues related to the registrant’s income recognition. “
Affected by this news, the price of Tarena ADS fell by 1% on May 1, 2019, and closed at $5.02 per ADS, damaging the interests of investors.
Then on November 1, 2019, Tarena announced the results of its independent investigation. Tarena disclosed issues surrounding income and expenditure inaccuracies, conflicts of interest and related party transactions, and interference with the external audit process, which means that the financial statements from 2014 to 2018 cannot be relied on and must be restated.
Affected by this news, the price of Tarena ADS fell by 9% at the opening of the next trading day on November 4, 2019, to $0.76, further damaging the interests of investors.
In this complaint, Tarina made misleading and/or false statements and/or failed to disclose during the entire class action period: (1) Certain employees interfered with Tarina’s external financial statements during certain periods Audit; (2) Tarena’s expenses and income are inaccurate; (3) Tylena has business dealings with organizations owned, invested in, or controlled by Tylena employees or their family members, and in some cases Tylena fails to disclose appropriately (4) For the above reasons, Tarena’s financial statements from 2014 to the end of the school period are inaccurate; (5) Tarena’s statements about its business, operations and prospects are therefore materially misleading and false and/or at all relevant times Lack of reasonable basis. The lawsuit alleges that investors suffered losses when the real details entered the market.
More information about Tarena…
The full story on Benzinga.com
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