An investigation for current long term investor in NYSE:LRN shares over possible breaches of fiduciary duties by certain directors at K12 Inc. was initiated and NYSE:LRN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/26/2012 -- An investigation for current long term investors of N K12 Inc. (NYSE:LRN), including those who purchased NYSE:LRN shares in early 2011 or earlier and currently hold those (or at least some of those) NYSE:LRN shares, over possible breaches of fiduciary duties by certain officers and directors of K12 Inc. was announced.
Investors who purchased K12 Inc. (NYSE:LRN) shares as in early 2011 or earlier and presently continue to hold those (or some of those) NYSE:LRN shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain current and/or former K12 Inc. officers and certain members of its board of directors breached their fiduciary duties owed to current investors in NYSE:LRN shares by causing K12 Inc. to issue certain statements between September 9, 2009 and December 16, 2011 that were materially false and misleading at the time they were made.
An investor in NYSE:LRN filed a lawsuit earlier this year against K12 Inc. alleging it violated Federal Securities Laws in connection with certain concerns raised about K12’s business practices. Specifically, the plaintiff alleges that K12, Inc. issued allegedly materially false and misleading statements between September 9, 2009 and December 16, 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 2012.
NYSE: LRN shares closed on Friday, March 23, 2012 at $24.51 per share.
Those who purchased K12 Inc. (NYSE:LRN) shares as in early 2011 or earlier and presently continue to hold those (or some of those) NYSE:LRN shares, have certain options and y should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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Contact Us: 888-4-SBWIRE (US) - 920-321-1250 (International)