Tarena International Inc logo

TEDU - Tarena International Inc News Story

$3.71 0.0  0.0%

Last Trade - 01/04/20

Sector
Industrials
Size
Small Cap
Market Cap £159.1m
Enterprise Value £86.1m
Revenue £254.9m
Position in Universe 3359th / 6309

BRIEF-Tarena Announces Findings Of Independent Investigation Update On Financial Statements Review And Nasdaq Listing

Fri 1st November, 2019 8:45pm
Nov 1 (Reuters) - Tarena International Inc  TEDU.O :
    * TARENA ANNOUNCES FINDINGS OF INDEPENDENT INVESTIGATION;
UPDATE
ON FINANCIAL STATEMENTS REVIEW AND NASDAQ LISTING
    * TARENA INTERNATIONAL - REVIEW FOUND REPORTED REVENUES FOR
2014,
2015, 2016 AND 2017, EACH QUARTER OF AND FULL YEAR 2018 WERE NOT
ACCURATE
    * TARENA - COMMITTEE DISCOVERED INSTANCES OF IMPROPER
CHARGES
AGAINST ACCOUNTS RECEIVABLE AND/OR BAD DEBTS THROUGH PAYMENT TO
THIRD PARTIES
    * TARENA INTERNATIONAL INC - IT WAS FOUND THAT CERTAIN
EMPLOYEES
INTERFERED WITH EXTERNAL AUDIT OF COMPANY'S FINANCIAL STATEMENTS
FOR CERTAIN PERIODS.
    * TARENA INTERNATIONAL INC - ANTICIPATES THAT TOTAL AMOUNT
OF
REVENUE MISSTATEMENT BETWEEN FISCAL YEARS 2014 THROUGH 2018 TO
BE LESS THAN RMB900 MILLION
    * TARENA INTERNATIONAL INC - INTENDS TO TIMELY REQUEST A
HEARING
BEFORE NASDAQ PANEL TO PRESENT ITS PLAN FOR REGAINING COMPLIANCE
    * TARENA INTERNATIONAL INC - INTENDS TO AMEND CERTAIN PRIOR
DISCLOSURES PERTAINING TO ITS EVALUATION OF SUCH CONTROLS AND
PROCEDURES

Source text for Eikon:  ID:nPn2bvjfca 
Further company coverage:  TEDU.O 

 ((Reuters.Briefs@thomsonreuters.com;))
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.