Deadline in Lawsuit for Investors in Bridgepoint Education Inc (NYSE:BPI) Shares Announced by Shareholders Foundation
March 17 2015 - 09:45AM
The Shareholders Foundation, Inc. announces that a lawsuit was
filed on behalf of certain purchasers of shares of Bridgepoint
Education Inc (NYSE:BPI) over alleged Federal Securities Laws
Violations by Bridgepoint Education.
Investors, who purchased shares Bridgepoint Education Inc
(NYSE:BPI) in 2012 or earlier and continue to hold any of those
(NYSE:BPI) shares, have certain options and should contact the
Shareholders Foundation at mail@shareholdersfoundation.com or call
+1 (858) 779 - 1554.
The plaintiff alleges that between August 7, 2012 and May 30,
2014 defendants made allegedly false and/or misleading statements
and/or failed to disclose to investors that Bridgepoint Education
Inc had applied an improper revenue recognition methodology to
assess collectability of funds owed by students, that as a result,
Bridgepoint Education's revenues and financial results were
overstated, that Bridgepoint Education's financial statements were
not prepared in accordance with Generally Accepted Accounting
Principles ("GAAP"), that Bridgepoint Education Inc lacked adequate
internal and financial controls, and that as a result of the
foregoing, Bridgepoint Education's financial statements were
materially false and misleading at all relevant times.
On May 30, 2014, Bridgepoint Education Inc disclosed in a filing
with the SEC that on May 23, 2014, the management of Bridgepoint
Education, Inc. concluded that Bridgepoint Education Inc's
previously issued financial statements for the year ended December
31, 2013, as well as for the interim periods included in that
fiscal year, should no longer be relied upon because of errors
related to revenue recognition that resulted in material
misstatements of revenue, bad debt expense and accounts
receivable.
Shares of Bridgepoint Education Inc (NYSE:BPI) declined from
almost $20 per share in late February 2014 to as low as $8.96 per
share on March 11, 2015.
Those who purchased shares of Bridgepoint Education Inc
(NYSE:BPI) have certain options and should contact the Shareholders
Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or
call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio
legal monitoring and a settlement claim filing service, which does
research related to shareholder issues and informs investors of
securities class actions, settlements, judgments, and other legal
related news to the stock/financial market. The Shareholders
Foundation, Inc. is not a law firm. The information is provided as
a public service. It is not intended as legal advice and should not
be relied upon.
CONTACT: Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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