San Diego, CA -- (SBWIRE) -- 09/19/2012 -- An investigation on behalf of former and current employees of Education Management Corp, who are or were participants or beneficiaries of the Education Management employee company stock option plan and purchased and currently hold NASDAQ:EDMC stock, was announced concerning potential breaches of fiduciary duties by certain officers and directors at Education Management Corp.
Those who are former or current employees or members of the Education Management Corp investment plans or profit sharing retirement plans and purchased and hold NASDAQ:EDMC shares or have information relating to this investigation, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1 (858) 779 - 1554.
The investigation by a law firm concerns whether certain Education Management officers and directors have possibly breached their fiduciary duties in connection with certain financial statements.
Education Management Corp (NASDAQ:EDMC) reported that its Total Revenue rose from over $2.01 billion for the 12 months period that ended on June 30, 2009, to over $2.88 billion for the 12 months period that ended on June 30, 2011, and its Net Income over the respective time periods increased from $104.41 million to $229.51 million.
However, its Total Revenue fell from over $2.88 billion to over $2.76 billion for the 12 months period that ended on June 30, 2012, and its Net Income of $229.51 million declined to a Net Loss of over $1.51 billion for the 12 months period that ended on June 30, 2012.
Shares of Education Management Corp (NASDAQ:EDMC) grew from as low as $8.25 per share in September 2010 to as high as$27.99 per share in December 2011.
Since then NASDAD:EDMC shares have lost substantial value and closed recently slightly under $3 per share.
Those who purchased shares of Education Management Corp (NASDAQ:EDMC) and currently hold those Education Management Corp shares, may have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego