Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Bridgepoint Education, Inc.
Oklahoma City, OK (February 26, 2015) – On February 24, 2015, a securities class action lawsuit was filed in the United States District Court for the Southern District of California against Bridgepoint Education, Inc. (NYSE: BPI). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is August 7, 2012 through May 30, 2014. More specifically, this litigation was filed because the Company announced that its financial statements filed with the SEC for the years ended December 31, 2011 and December 31, 2012, as well as the financial statements issued for the quarters ended March 31, 2012, June 30, 2012 and September 30, 2012, should no longer be relied upon because they contained errors related to revenue recognition that resulted in the material misstatements of revenue, bad debt expense and accounts receivable. On this news, the Company’s shares declined to close as $12.82 per share.
Plaintiff seeks to recover damages on behalf of all Bridgepoint Education, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, April 27, 2015 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
To join this class action, click here to obtain an investor certification. Once complete, please email this form to email@example.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.
Posted on Thu, February 26, 2015
by Robin Hester filed under