APPROACHING DEADLINE: Lundin Law PC Announces Securities Class Action Lawsuit against K12, Inc. and Reminds Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / August 31, 2016 / Lundin Law PC (the “Firm”) announces a class action lawsuit has been filed against K12, Inc. (“K12” or the “Company”) (NYSE: LRN) concerning possible violations of federal securities laws between November 7, 2013 and October 27, 2015 (the “Class Period”). Investors, who purchased or otherwise acquired shares during the Class Period, should contact the Firm in advance of the September 19, 2016 lead plaintiff motion deadline.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the complaint, K12 issued false and misleading statements and/or failed to disclose: that the Company published misleading advertisements about students’ academic progress, parent satisfaction, graduates’ eligibility for admission into the University of California and California State University, class sizes, the individualized and flexible nature of K12’s instruction, hidden costs, and the quality of the materials provided to students; that the Company submitted inflated student attendance numbers to the California Department of Education in order to receive additional funding; that K12 was open to potential civil and criminal liability due to these practices; that K12 would likely be forced to end these practices, which would have a negative impact on its operations and prospects; and as a result of the above, the Company’s public statements were materially false and misleading at all relevant times. When the true details were released to the public, shares of K12 dropped in value, causing investors harm.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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SOURCE: Lundin Law PC