LRN Investors: The Wagner Firm & Bragar Eagel & Squire, P.C. Announce the Filing of A Securities Class Action On Behalf of K1...
September 15 2016 - 08:04PM
Business Wire
The Wagner Firm and Bragar Eagel & Squire, P.C. announce the
filing of a class action lawsuit in the United States District
Court for the Northern District of California on behalf of persons
and entities that acquired K12 Inc. (“K12” or the “Company”) (NYSE:
LRN) securities between October 10, 2013 and October 27,
2015, inclusive (the “Class Period”). K12 investors have
until September 19, 2016 to file a lead plaintiff
motion.
The complaint alleges that, throughout the Class Period,
Defendants made materially false and/or misleading statements, as
well as failed to disclose material adverse facts about the
Company’s business, operations, and prospects. Specifically,
Defendants made false and/or misleading statements and/or failed to
disclose: (1) that K12 was publishing misleading advertisements
about students’ academic progress, parent satisfaction, their
graduates’ eligibility for University of California and California
State University admission, class sizes, the individualized and
flexible nature of K12’s instruction, hidden costs, and the quality
of the materials provided to students; (2) that, as a result of the
aforementioned practices, demand for the Company’s products and
services was declining; (3) that K12 submitted inflated student
attendance numbers to the California Department of Education in
order to collect additional funding; (4) that, as a result of the
aforementioned practices, the Company was open to potential civil
and criminal liability; (5) that the Company would likely be forced
to end these practices, which would have a negative impact on K12’s
operations and prospects, and/or that K12 was, in fact, ending the
practices; and (6) that, as a result of the foregoing, Defendants’
statements about K12’s business, operations, and prospects, were
false and misleading and/or lacked a reasonable basis.
K12 investors have until September 19, 2016 to move the
Court to request to be appointed lead plaintiff. If you have
information or would like to learn more about these claims, or have
any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Avi Wagner,
Esquire, of The Wagner Firm, 1925 Century Park East, Suite 2100,
Los Angeles, California 90067, at (310) 491-7949, by e-mail
at info@thewagnerfirm.com, or visit our website
at www.thewagnerfirm.com. Alternatively, please contact Todd
Henderson, Esquire, of Bragar Eagel & Squire, P.C., 885 3rd
Avenue, Suite 3040, New York, New York 10022, at (212) 308-5858, by
e-mail at henderson@bespc.com, or visit www.bespc.com for more
information.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160915006674/en/
The Wagner Firm, Los Angeles, CAAvi Wagner,
310-491-7949info@thewagnerfirm.comwww.thewagnerfirm.comorBragar
Eagel & Squire, P.C., New York, NYTodd
Hendersonhenderson@bespc.comwww.bespc.com
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