Recent Security Class Actions

According to the Complaint, TAL Education Group ("TAL") provides educational services, and offers comprehensive tutoring services to students covering core academic subjects such as mathematics, English, Chinese, physics,
chemistry. The Company mainly serves students in China.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company overstated its net income; (2) that the Company's net income was deteriorating; and (3) that, as a result of the foregoing, Defendants' statements about TAL's business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.