CONSHOHOCKEN, Pa.--(BUSINESS WIRE)--Goldman Scarlato & Karon PC (“GSK”) has commenced an investigation into The Washington Post Company (“Washington Post” or the “Company”)(NYSE: WPO) to determine whether the Company violated federal securities laws by making false statements concerning its subsidiary, Kaplan, Inc. Kaplan, Inc. operates Kaplan University, a for-profit college (“FPC”).
The U.S. General Accounting Office issued a report on August 4, 2010 (the “GAO Report”) concluding that FPCs have engaged in an illegal and fraudulent scheme to artificially inflate their federal student loan funding. As a result of the GAO Report and its findings, Washington Post’s stock dropped $17.31, or 3.99 percent. The Company’s share price fell another 8.1 percent upon the Department of Education’s August 13, 2010 revelation of estimates that only 27 percent of Kaplan students were repaying their federal student loans.
What You May Do
If you have information that would assist GSK in its investigation or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call Mark S. Goldman, Esq. (888) 668-4130. GSK also encourages anyone with information regarding Washington Post’s conduct during the period in question to contact the Firm, including whistleblowers, former employees, shareholders, and others.
About Goldman Scarlato & Karon, P.C.
GSK prosecutes securities fraud, consumer fraud, price-fixing, ERISA class actions, and shareholder-derivative litigation throughout the United States. The Firm’s lawyers have recovered hundreds of millions of dollars on behalf of consumers, investors, and businesses.
To learn more about Goldman Scarlato, please visit our website, www.gsk-law.com.