An investor, who purchased NYSE:LRN shares, filed a lawsuit over alleged violations of Federal Securities Laws by K12 Inc..
Investors who purchased shares of K12 Inc. (NYSE:LRN) have certain options and for certain investors are short and strict deadlines running. Deadline: September 19, 2016. NYSE:LRN investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The plaintiff claims that between November 7, 2013 through October 27, 2015 defendants issued false and misleading statements to investors and/or failed to disclose that K12 Inc. was publishing misleading advertisements about students’ academic progress, parent satisfaction, their graduates’ eligibility for University of California and California State University admission, class sizes, the individualized and flexible nature of K12’s instruction, hidden costs, and the quality of the materials provided to students, that K12 Inc. submitted inflated student attendance numbers to the California Department of Education in order to collect additional funding, that K12 Inc. was open to potential civil and criminal liability due to these practices, that K12 Inc. would likely be forced to end these practices, which would have a negative impact on K12’s operations and prospects, and/or that K12 was, in fact, ending the practices, and that as a result, K12’s public statements were materially false and misleading at all relevant times.
K12 Inc. reported that its Total Revenue increased from $848.22 million for the 12 months period that ended on June 30, 2013 to$948.29 million for the 12 months period that ended on June 30, 2015 while its Net Income for those respective time periods declined from $28.11 million to $10.99 million. Shares of K12 Inc. (NYSE:LRN) reached as high as $36.78 per share in September 2013.
On October 27, 2015, post-market, K12 disclosed receipt on September 24, 2015 of a civil investigative subpoena from the Attorney General of California in connection with an industry-wide investigation into for-profit virtual schools. Shares of K12 Inc. (NYSE:LRN) declined to as low as $9.50 per share on October 30, 2015.
On August 2, 2016, NYSE:LRN shares closed at $12.67 per share.
Those who purchased NYSE:LRN shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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