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.

沪江英语快讯：号称创始于美国硅谷的安博教育，在美国纽交所上市之后，于去年5月在美国遭到了集体诉讼。美国律师事务所Glancy Binkow & Goldberg LLP宣布，代表购买了安博教育美国存托股份的所有个人和实体，在美国加州中部地区的地方法院向安博教育发起集体诉讼。

起诉书中称，安博教育及该公司一些高管违反了美国联邦证券法的相关规定，给投资者造成了损失，因此应该给予赔偿。该律师事务所指控称，安博教育在集体诉讼期内发布了虚假或有误导性的消息，没有披露有关安博教育业务、运营和业绩前景的重要负面事实。

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