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 announced by Shareholders Foundation - EconoTimes)
SAN DIEGO, Sept. 13, 2016 -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in California on behalf of certain purchasers of shares of K12 Inc. (NYSE:LRN) over alleged Securities Laws Violations by K12 Inc. The lawsuit seeks to recover damages for certain NYSE:LRN investors.
Investors who purchased shares of K12 Inc. (NYSE:LRN) have certain options and for certain investors there are short and strict deadlines running. Deadline: September 19, 2016. NYSE:LRN investors should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
The plaintiff alleges that the 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.
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.
Those who purchased K12 Inc. (NYSE:LRN) shares should contact the Shareholders Foundation, Inc. by e-mail at [email protected] or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT: Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554 [email protected] 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
