San Diego, CA -- (SBWIRE) -- 08/22/2012 -- A deadline is coming up on September 11, 2011in the lawsuit filed for investors of Bridgepoint Education Inc (NYSE:BPI) over alleged securities laws violations by Bridgepoint Education in connection with its Ashford University’s accreditation.
Investors with a substantial investment in Bridgepoint Education Inc (NYSE:BPI) shares between May 3, 2011 and July 6, 2012, should get active before the Deadline that is coming up on September 11, 2011, and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the the U.S. District Court for the Southern District of California the plaintiff alleges on behalf of purchasers of Bridgepoint Education Inc (NYSE:BPI) common stock during the period between May 3, 2011 and July 6, 2012, that Bridgepoint Education Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding Bridgepoint Education’s business and prospects. Specifically, so the plaintiff, defendants concealed accreditation problems with the Company's Ashford campus.
On July 9, 2012, Bridgepoint Education Inc (NYSE:BPI) disclosed in a filing with the U.S. Securities and Exchange Commision (“SEC”) that its Ashford University received official notice from the Accrediting Commission for Senior Colleges and Universities of the Western Association of Schools and Colleges ("WASC") that WASC has acted to deny initial accreditation to the institution and to permit the institution to reapply for accreditation with a single special visit to occur as early as spring 2013. Bridgepoint Education Inc said that WASC found that Ashford University had not yet demonstrated substantial compliance with certain of the WASC Standards for Accreditation, as would be required for initial accreditation.
The plaintiff claims that as a result of defendants' allegedly false statements, Bridgepoint Education Inc (NYSE:BPI) stock traded at artificially inflated prices between May 3, 2011 and July 6, 2012, reaching a high of $30.50 per share on July 22, 2011.
Shares of Bridgepoint Education Inc (NYSE:BPI) fell from $21.50 per share on July 6, 202 to as low as $8.40 on July 26, 2012.
On August 21, 2012. NYSE:BPI shares closed at $10.40 per share.
Those who purchased shares of Bridgepoint Education Inc (NYSE:BPI), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego