Law Offices of Howard G. Smith Reminds Investors of the Lead Plaintiff Deadline in the Class Action Lawsuit Against K12, Inc.
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors that all purchasers of the securities of K12, Inc. (“K12” or the “Company”) (NYSE:LRN) between March 11, 2013 and October 9, 2013, inclusive (the “Class Period”), have until April 1, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.
The Complaint filed in the United States District Court for Eastern District of Virginia alleges that the Company and certain of its executive officers and/or directors 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. If you wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.