NEW ORLEANS--(BUSINESS WIRE)--ClaimsFiler, a FREE shareholder information service, reminds investors that they have only until July 13, 2020 to file lead plaintiff applications in a securities class action lawsuit against Grand Canyon Education, Inc. (NasdaqGS: LOPE), if they purchased the Company’s securities between January 5, 2018, and January 27, 2020, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Delaware.
Grand Canyon investors should visit us at https://www.claimsfiler.com/cases/view-grand-canyon-education-inc-securities-litigation or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Grand Canyon and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 28, 2020, following a series of prior negative revelations regarding the Company, Citron Research reported that, based on findings of the U.S. Department of Education and the Company’s own documentation obtained via an FOIA request, the Company was an “educational Enron” that used a “captive non-reporting subsidiary” to “dump expenses and liabilities, while receiving a disproportionate amount of revenue at inflated margins in order to artificially inflate the stock price.” On this news, the price of Grand Canyon’s shares declined further, injuring investors.
The case is The City of Hialeah Employees' Retirement System v. Grand Canyon Education, Inc., No. 1:20-cv-00639.
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