BEIJING, Nov. 12, 2020 /PRNewswire/ -- RYB
Education, Inc. ("RYB" or the "Company") (NYSE: RYB), a
leading early childhood education service provider in China,
today announced that the two remaining securities class action
complaints against the Company, the underwriters in its IPO, and
certain of its current and former directors and officers have each
been voluntarily discontinued or dismissed in their entirety in the
respective proceedings.
As previously disclosed in the Company's annual report, the
Company, certain underwriters for its initial public offering, and
certain of its current and former directors and officers were named
as defendants in two putative securities class actions filed in the
Supreme Court of the State of New
York for the County of Queens (Zhang v. RYB Education, Inc. et
al., Index No. 717923/2018) and in the Superior Court of the
State of California for the County
of San Mateo (Qian v. RYB
Education, Inc. et al., Case No. 17CIV05494). Both actions have
now been discontinued or dismissed, with a Notice of Voluntary
Discontinuance filed in the Queens
County case on October 19,
2020 and a Dismissal Order Granting Plaintiff's Request for
Voluntary Dismissal Without Prejudice entered in the San Mateo case on November 2, 2020.
About RYB Education, Inc.
Founded on the core values of "Care" and "Responsibility,"
"Inspire" and "Innovate," RYB Education, Inc. is a leading early
childhood education service provider in China. Since opening its first play-and-learn
center in 1998, the Company has grown and flourished with the
mission to provide high-quality, individualized and age-appropriate
care and education to nurture and inspire each child for his or her
betterment in life. During its two decades of operating history,
the Company has built "RYB" into a well-recognized education brand
and helped bring about many new educational practices in
China's early childhood education
industry. RYB's comprehensive early childhood education solutions
meet the needs of children from infancy to 6 years old through
structured courses at kindergartens and play-and-learn centers, as
well as at-home educational products and services.
For investor and media inquiries, please
contact:
In China:
RYB Education, Inc.
Investor Relations
E-mail: ir@rybbaby.com
The Piacente Group, Inc.
Yang Song
Tel: +86 (10) 6508-0677
E-mail: ryb@tpg-ir.com
In the United
States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: ryb@tpg-ir.com
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SOURCE RYB Education, Inc.