A Deadline is coming up on September 19, 2016 in the lawsuit for investors in K12 Inc. (NYSE:LRN and NYSE:LRN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/19/2016 -- The Shareholders Foundation announced that a deadline is coming up on September 19, 2016 in the lawsuit filed for certain investors of K12 Inc. (NYSE:LRN) over alleged securities laws violations by K12 Inc.
Investors who purchased shares of K12 Inc. (NYSE:LRN) have certain options and there are strict and short deadlines running. Deadline: September 19, 2016. NYSE:LRN stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
According to the complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, 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.
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.
Those who purchased shares of K12 Inc. 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