SHAREHOLDER ALERT: Gainey McKenna & Egleston Reminds Investors of Class Action Against Bridgepoint Education, Inc. and a Lead...
March 27 2015 - 7:00PM
Gainey McKenna & Egleston announces that a class action lawsuit
has been filed in the United States District Court for the Southern
District of California on behalf of all persons or entities that
purchased the securities of Bridgepoint Education, Inc.
("Bridgepoint" or the "Company") (NYSE:BPI) between August 7, 2012
to May 30, 2014, inclusive (the "Class Period"), alleging
violations of the Securities Exchange Act of 1934 against the
Company and certain of its officers (the "Complaint").
The Complaint alleges 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 30, 2014, Bridgepoint announced that its financial
statements filed with the SEC 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. According to the
Company, these financial statements contained errors related to
revenue recognition that resulted in material misstatements of
revenue, bad debt expense and accounts receivable.
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, or to discuss your rights or interests regarding this
class action, please contact Thomas J. McKenna, Esq. or Gregory M.
Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300,
or via e-mail at tjmckenna@gme-law.com or
gegleston@gme-law.com.
Bridgepoint Education, Inc. (NYSE:BPI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Bridgepoint Education, Inc. (NYSE:BPI)
Historical Stock Chart
From Apr 2023 to Apr 2024