San Diego, CA -- (SBWIRE) -- 02/15/2012 -- The Shareholders Foundation announces that an investor in NYSE:LRN shares filed a lawsuit in the U.S. District Court for the Eastern District of Virginia against K12, Inc over alleged Violations of Federal Securities Laws in connection with certain concerns raised about K12’s business practices.
Investors who purchased shares of K12 Inc. (NYSE:LRN), have certain options and for certain NYSE:LRN stockholders are strict and short deadlines running. Deadline: April 2, 2012. NYSE:LRN stockholders should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint 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
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 recently as low as $17.25 per share.
NYSE: LRN shares closed on January 31, 2012 at $22.39 per share.
Those who purchased shares of K12 Inc. (NYSE:LRN), including but not limited to those who purchased NYSE:LRN stocks between September 9, 2009 and December 16, 2011, have certain options and there are strict and short deadlines running. Deadline: April 2, 2012. NYSE:LRN stockholders should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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