Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit on Behalf of Investors of K12, Inc.
LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of Virginia on behalf of a class (the “Class”) comprising all purchasers of the common stock of K12, Inc. (“K12” or the “Company”) (NYSE:LRN) between March 11, 2013 and October 9, 2013, inclusive (the “Class Period”).
If you purchased K12 shares during the Class Period, please contact us toll-free at (888) 773-9224, or at (212) 682-5340, or by email to email@example.com to discuss this matter.
K12 is a technology-based education company offering proprietary curriculum, software systems and educational services through full-time virtual schools and blended schools for students primarily in kindergarten through 12th grade. The Complaint alleges that during the Class Period the Company and certain of its executive officers misrepresented or failed to disclose that:
- Between March 2013 and June 2013, K12 experienced a material decline in student applications for fiscal 2014.
- K12’s enrollment centers did not have adequate school-by-school planning tools or a staffing model in place sufficient to handle the timing and the volume of student applications.
- K12’s own promotional program started later than it should have, and drove more leads and applications later in the summer – when it was too late for the Company to convert the applications into student enrollments for fiscal 2014.
- K12 failed to appropriately consider increased compliance requirements that were applicable in certain states during the fiscal 2014 enrollment season.
- The Company failed to implement a sufficient early-warning system to detect operational failures in the enrollment process.
If you purchased K12 common stock during the Class Period, you may move the Court no later than April 1, 2014, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. To learn more about this action, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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