San Diego, CA -- (SBWire) -- 01/02/2018 --An investigation was announced on behalf of current long-term investors in shares of K12 Inc. (NYSE:LRN) over potential breaches of fiduciary duties by certain directors at K12 Inc.
Investors who purchased shares of K12 Inc. (NYSE:LRN) and currently hold any of those NYSE:LRN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain K12 Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
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.
On July 26, 2016, a lawsuit was filed against K12 Inc over alleged securities laws violations. The plaintiff claims 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.
Those who purchased shares of K12 Inc. (NYSE:LRN) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
NYSE:LRN Shareholder Notice: Investigation over Potential Wrongdoing at K12 Inc
An investigation on behalf of investors in K12 Inc. (NYSE:LRN) shares over potential wrongdoing at K12 Inc. was announced and NYSE:LRN stockholders should contact the Shareholders Foundation.