The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased RYB Education, Inc. (“RYB Education”) (NYSE: RYB) American Depositary Shares pursuant to the September 27, 2017 IPO or between September 27, 2017 and November 22, 2017.
The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) RYB failed to establish safety policies to prevent sexual abuse from occurring at its schools; (ii) RYB’s failure to remedy problems within its system exposed children to harm and unreasonable risk of harm while in the Company’s care; and (iii) as a result of the foregoing, RYB securities traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.
On November 24, 2017, media outlets announced that parents had accused a RYB nursery of drugging and abusing children. Then on November 27, 2017, RYB announced that one “teacher at the RYB-operated kindergarten in question was detained as a criminal suspect for maltreatment of children in the facility….”
If you suffered a loss in RYB you have until January 26, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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