An investigation on behalf of current long term investors in NYSE:BPI shares over possible breaches of fiduciary duty by certain officers and directors at Bridgepoint Education Inc was announced and NYSE:BPI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/31/2015 -- An investigation for investors, who purchased NYSE:BPI shares in 2012 or earlier and currently still hold any of those NYSE:BPI shares, was announced concerning potential wrongdoing by Bridgepoint Education certain officers and directors.
Investors, who purchased Bridgepoint Education Inc (NYSE:BPI) shares in 2012 or earlier and currently still hold any of those NYSE:BPI shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NYSE:BPI stocks follows a lawsuit filed recently against Bridgepoint Education over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE:BPI stocks, concerns whether certain Bridgepoint Education officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of California the plaintiff alleges that the defendants made certain allegedly false and/or misleading statements and/or failed to disclose to investors that Bridgepoint Education Inc had applied an improper revenue recognition methodology to assess collectability of funds owed by students, that as a result, Bridgepoint Education's revenues and financial results were overstated, that Bridgepoint Education's financial statements were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP), that Bridgepoint Education Inc lacked adequate internal and financial controls, and that as a result of the foregoing, Bridgepoint Education"s financial statements were materially false and misleading at all relevant times.
On May 30, 2014, Bridgepoint Education Inc disclosed in a filing with the SEC that on May 23, 2014, the management of Bridgepoint Education, Inc. concluded that Bridgepoint Education Inc's previously issued financial statements for the year ended December 31, 2013, as well as for the interim periods included in that fiscal year, should no longer be relied upon because of errors related to revenue recognition that resulted in material misstatements of revenue, bad debt expense and accounts receivable.
Shares of Bridgepoint Education Inc (NYSE:BPI) declined from almost $20 per share in late February 2014 to as low as $9.23 per share in late January 2015.
On March 27, 2015, NYSE:BPI shares closed at $9.43 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