San Diego, CA -- (SBWIRE) -- 03/07/2012 -- A deadline is coming up on April 2, 2012 in the lawsuit filed for investors of K12 Inc. (NYSE:LRN) over alleged false and misleading statements.
Investors with a substantial investment in K12 Inc. (NYSE:LRN) shares between September 9, 2009 and December 16, 2011, should get active before the Deadline that is coming up on April 2, 2012 and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Eastern District of Virginia the plaintiff alleges on behalf of investors in K12, Inc. common stock during the period between September 9, 2009 and December 16, 2011, that K12, Inc. and certain of its senior executives violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements between September 9, 2009 and December 16, 2011
Shares of K12 Inc. (NYSE:LRN) rose from as low as $13.67 in March 09 to as high as $39.37 per share in April 2011.
Then on December 12 a media report entitled “Profits and Questions at Online Charter Schools” raised serious concerns about K12’s business practices, alleging that its schools inflate their student rosters, are underperforming academically, have detrimental student-to-teacher ratios and gain wrongful access to public funds.
On December 13, 2011 K12 Inc responded in a statement to the article and said the article ‘is unfair and one-sided, and advances an anti-parent choice policy agenda’.
However, K12 Inc’s shares fell from $28.79 per share on December 12, 2011 to $20.57 per share on December 14, 2011. In fact, since April 2011 NYSE: LRN stocks fell from almost $40 to as low as $17.25 per share in early January.
NYSE: LRN shares closed on March 6, 2012 at $20.85 per share.
Those who purchased shares of K12 Inc. (NYSE:LRN) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego