LOPE SHAREHOLDER ALERT: Lawsuit Filed For Grand Canyon Investors

BOSTON, MA / ACCESSWIRE / June 1, 2020 / Thornton Law Firm LLP is investigating a securities class action lawsuit filed on behalf of shareholders of Grand Canyon Education, Inc. (NASDAQ:LOPE). Investors who purchased LOPE securities between January 5, 2018 and January 27, 2020, and are interested in serving as a lead plaintiff, are encouraged to visit https://www.tenlaw.com/cases/LOPE. Investors may also contact Thornton Law Firm at shareholder@tenlaw.com, or call 617-531-3917. Investors outside the USA, including derivative investors, are particularly encouraged to contact Thornton Law Firm to discuss their potential recovery rights.

FOR MORE INFORMATION, VISIT: https://www.tenlaw.com/cases/LOPE

There is no minimum number of shares required to be a class member, and shareholders do not need to be lead plaintiff to recover as a class member. The lead plaintiff serves as a representative of all investors in the lawsuit. Interested LOPE shareholders have until July 11, 2020 to apply to be a lead plaintiff. The lawsuit alleges violations of the federal securities laws, and the class has not yet been certified. Until certification occurs, you are not represented by an attorney. Investors who choose to take no action can remain an absent class member without taking any action at this time.

According to the Complaint, Grand Canyon Education, Inc. is an education services company. The claims alleged in this case arise from Defendants' misrepresentations and omissions regarding Grand Canyon's spin-off of its education assets to become purported non-profit, independent entity Grand Canyon University ("GCU").

The Complaint alleges that during the Class Period, the Company's statements were materially false and misleading because following the spin-off, (i) GCU was not a proper non-profit organization as it remained under the control of Grand Canyon, (ii) Grand Canyon was not a third-party service provider to GCU but rather continued to effectively operate the entity, (iii) Grand Canyon employees served as executives of GCU, and (iv) GCU functioned as an off-balance-sheet entity to which Grand Canyon was able to funnel expenses and costs in exchange for a disproportionate amount of revenue, thereby inflating Grand Canyon's financial results.

Investors who suffered a loss in LOPE that are interested to learn more about the lead plaintiff process are encouraged to contact the Thornton Law Firm's shareholder rights team at http://www.tenlaw.com/cases/LOPE, by email at shareholder@tenlaw.com, or calling 617-531-3917.

FOR MORE INFORMATION: https://www.tenlaw.com/cases/LOPE

Thornton Law Firm's securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

CONTACT:

Thornton Law Firm LLP
1 Lincoln Street
State Street Financial Center
Boston, MA 02111
www.tenlaw.com/cases/LOPE

SOURCE: Thornton Law Firm LLP

ReleaseID: 592237