An investigation on behalf of investors of Bridgepoint Education Inc (NYSE:BP)I shares over potential breaches of fiduciary duties was announced and NYSE:BPI stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 11/06/2012 -- An investigation on behalf of current long-term investors in shares of Bridgepoint Education Inc (NYSE:BPI) shares over potential wrongdoing at Bridgepoint Education, Inc was announced
Investors who are current long term stockholders in shares of Bridgepoint Education Inc (NYSE:BPI), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns on whether certain executive officers and directors of Bridgepoint breached their fiduciary duties by causing the Company to, among other things, improperly compensate its admission personnel at Ashford University. Bridgepoint is the parent company of Ashford University, an academic institution.
Bridgepoint Education Inc (NYSE:BPI) reported that its annual Revenue rose from $218.29million in 2008 to $933.35million in 2011 and its Net Income increased from $26.43million in 2008 to $172.76million in 2011. For the first quarter in 2012 Bridgepoint Education Inc (NYSE:BPI) reported $250.44milion in Revenue, compared to $229.43million one year earlier. However, its first quarter Net Income fell from $53.92million to $33.04million.
On October 15, 2012, Bridgepoint announced it had received a letter from the United States Department of Justice ("DOJ"), stating that the DOJ is investigating Bridgepoint over the compensation of its admissions staff.
The investigation by the DOJ comes three months after on July 9, 2012, Bridgepoint Education Inc disclosed that its Ashford University received official notice from the Accrediting Commission for Senior Colleges and Universities of the Western Association of Schools and Colleges ("WASC") that WASC has acted to deny initial accreditation to the institution and to permit the institution to reapply for accreditation with a single special visit to occur as early as spring 2013.
Shares of Bridgepoint Education Inc (NYSE:BPI) declined from as high as $26.94 per share in early 2012 to as low as $8.41 per share in the end of July 2012.
On November 5, 2012, NYSE:BPI shares closed at 9.65 per share, far less than half of its 52 week High.
Those who are current long term stockholders in shares of Bridgepoint Education Inc (NYSE:BPI), have certain options and should contact the Shareholders Foundation.
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