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Shares of Chinese Online Tutoring Firm TAL Education Fall After Audit Uncovers Fraud

By Shai Oster
· · Source: Investor's Business Daily

Shares of TAL Education, a Chinese tutoring company that saw soaring demand after China closed schools to prevent the spread of Covid-19, fell after it said an audit uncovered fraud. The company said it found that an employee inflated sales of one of its products during a routine check. The disclosure of fraud at a second Chinese listed company in a week is likely to shake investor confidence...

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