TRADING ALERT: Rosen Law Firm Reminds Bridgepoint Education, Inc. Investors of Important Class Action Deadline - BPI
March 13 2015 - 2:32PM
Business Wire
Rosen Law Firm, a global investor rights firm, reminds
purchasers of the securities of Bridgepoint Education, Inc. (NYSE:
BPI) between August 7, 2012 and May 30, 2014 of the important April
27, 2015 lead plaintiff deadline in the class action. The lawsuit
seeks to recover investors’ losses under the federal securities
laws.
To join the Bridgepoint class action, visit the firm’s website
at http://www.rosenlegal.com/cases-516.html, or contact Phillip
Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or via
email at pkim@rosenlegal.com or kchan@rosenlegal.com for
information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN
AN ABSENT CLASS MEMBER.
According to the lawsuit, the Company made false and/or
misleading statements and/or failed to disclose to investors that:
(1) the Company had applied an improper revenue recognition
methodology to assess collectability of funds owed by students; (2)
as a result, the Company’s revenues and financial results were
overstated; (3) the Company’s financial statements were not
prepared in accordance with Generally Accepted Accounting
Principles (GAAP); (4) the Company lacked adequate internal and
financial controls; and (5), as a result of the foregoing, the
Company’s financial statements were materially false and misleading
at all relevant times.
On May 12, 2014, the Company announced that it was not able to
timely file its Quarterly Report because they had been informed by
the SEC that a reassessment of its revenue recognition policy was
necessary. The SEC was requiring the Company to reassess whether
collectability was reasonably assured on a student-by-student
basis. After the market learned of this adverse new, shares of
Bridgepoint dropped 9% on May 12, 2014, to close at $14.51 per
share. Additionally, the Company announced on May 30, 2014, that
its financial statements 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.
If you wish to serve as lead plaintiff, you must move the Court
no later than April 27, 2015. A lead plaintiff is a representative
party acting on behalf of other class members in directing the
litigation. If you wish to join the litigation go to
http://www.rosenlegal.com/cases-516.html or to discuss your rights
or interests regarding this class action, please contact Phillip
Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll-free at
866-767-3653 or via e-mail at pkim@rosenlegal.com or
kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Laurence Rosen, Esq.Phillip Kim, Esq.Kevin Chan, Esq.The Rosen
Law Firm, P.A.275 Madison Avenue, 34th FloorNew York, NY 10016Tel:
(212) 686-1060Toll Free: (866) 767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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