San Diego, CA -- (SBWIRE) -- 10/23/2012 -- An investigation on behalf of investors in shares of K12 Inc. (NYSE:LRN) was announced concerning whether certain officers and directors of K12 Inc. possibly breached their fiduciary duties in connection with certain statements.
Investors who purchased shares of K12 Inc. (NYSE:LRN), 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 officers and directors of K12 Inc. breached their fiduciary duties and caused damage to the company. and its shareholders by, among other things, failing to implement adequate internal controls.
Shares of K12 Inc. (NYSE:LRN) grew from as low as $13.67 per share in March 2009 to as high as $39.37 in April 2011.
Then in mid-December 2011 an article alleged numerous improper practices at K12's main virtual charter schools. The article alleged K12's high pressure sales strategies to enroll students, administrative pressure to pass enrolled students regardless of academic performance in order to artificially inflate enrollment, and the overall failure of K12 students to maintain grade-level performance in math and reading.
Since April 2011 NYSE:LRN shares declined to as low as $17.52 in late December 2011.
On September 11, 2012, the Florida Department of Education announced that it was investigating K12 over allegations that the Company allegedly used uncertified teachers and has asked employees to help cover up the practice.
On October 22, 2012, NYSE:LRN shares closed at $21.90 per share, which is significantly below its 52 week High of $37.00 per share,
Those who purchased shares of K12 Inc. (NYSE:LRN), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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