Glancy Binkow & Goldberg LLP, representing investors of Ambow Education Holding Ltd. (“Ambow” or the “Company”) (AMBO), announces that a class action lawsuit has been commenced on behalf of all purchasers of the American Depositary Shares (“ADSs”) of Ambow between May 18, 2011 and May 16, 2012, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 (the “Complaint”). The Complaint filed by Glancy Binkow & Goldberg,?Gudimetla v. Ambow Education Holding Ltd., et al., Case No. 2:12-cv-05062-PSG, is pending in the United States District Court for the Central District of California before United States District Judge Philip S. Gutierrez.

The Complaint charges Ambow and certain of the Company’s executive officers with violations of federal securities laws. Ambow provides educational and career enhancement services in the People’s Republic of China. The Complaint alleges that throughout the Class Period the defendants issued false and misleading statements or failed to disclose material adverse facts about Ambow’s business, operations and prospects. Specifically, the Complaint alleges that the defendants misrepresented or failed to disclose that: (1) certain of the Company’s distributors did not have an adequate history of timely payment; (2) as such, the collection of resulting receivables from these distributors was not reasonably assured; (3) as a result, the Company was improperly recognizing revenue on sales to these distributors; (4) that the Company was improperly accounting for certain business acquisitions; (5) as a result of the foregoing, the Company’s financial results were misstated during the Class Period; (6) the Company lacked adequate internal and financial controls; and (7), as a result of the above, the Company’s financial results were materially false and misleading at all relevant times.

滬江英語(yǔ)快訊：號(hào)稱創(chuàng)始于美國(guó)硅谷的安博教育，在美國(guó)紐交所上市之后，于去年5月在美國(guó)遭到了集體訴訟。美國(guó)律師事務(wù)所Glancy Binkow & Goldberg LLP宣布，代表購(gòu)買了安博教育美國(guó)存托股份的所有個(gè)人和實(shí)體，在美國(guó)加州中部地區(qū)的地方法院向安博教育發(fā)起集體訴訟。

起訴書中稱，安博教育及該公司一些高管違反了美國(guó)聯(lián)邦證券法的相關(guān)規(guī)定，給投資者造成了損失，因此應(yīng)該給予賠償。該律師事務(wù)所指控稱，安博教育在集體訴訟期內(nèi)發(fā)布了虛假或有誤導(dǎo)性的消息，沒(méi)有披露有關(guān)安博教育業(yè)務(wù)、運(yùn)營(yíng)和業(yè)績(jī)前景的重要負(fù)面事實(shí)。

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