New Oriental Says SEC Doesn't Plan To Pursue Any Enforcement Action After Probe

(RTTNews) - New Oriental Education and Technology Group Inc. (EDU), a provider of private educational services in China, announced that it has been advised by the staff of the Securities and Exchange Commission or the "SEC" that the investigation by the SEC as to the Company has been completed and that the staff does not intend to recommend any enforcement action by the SEC.

The company had initially reported the existence of this investigation in July 2012.

Michael Yu, New Oriental's Chairman and Chief Executive Officer, said, "I am pleased to announce that the SEC has concluded its investigation. We are gratified to share the positive news with our investors that this matter is now behind us. We will keep focusing on our business and look forward to delivering long-term value to our shareholders."