DEADLINE ALERT: Rigrodsky & Long, P.A. Reminds Shareholders Of Bridgepoint Education, Inc. Of Upcoming Deadline
April 02 2015 - 7:15PM
Business Wire
Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of
Bridgepoint Education, Inc. (NYSE: BPI)?
- Did you purchase your shares between
August 7, 2012 and May 30, 2014, inclusive?
- Did you lose money in your
investment in Bridgepoint Education, Inc.?
- Do you want to discuss your
rights?
Rigrodsky & Long, P.A., including former Special Assistant
United States Attorney, Timothy J. MacFall, reminds shareholders of
Bridgepoint Education, Inc. (“Bridgepoint” or the “Company”) (NYSE:
BPI) of an upcoming deadline involving a securities fraud class
action lawsuit commenced against the Company.
A complaint was filed in the United States District Court for
the Southern District of California on behalf of all persons or
entities that purchased the common stock of Bridgepoint between
August 7, 2012 and 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”). If you
wish to serve as lead plaintiff, you must move the Court no later
than April 27, 2015.
If you purchased shares of Bridgepoint during the Class Period,
or purchased shares prior to the Class Period and still hold Bridgepoint, and wish to discuss
this action or have any questions concerning this notice or your
rights or interests, please contact Timothy J. MacFall, Esquire or
Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway,
Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to
info@rl-legal.com; or at:
http://www.rigrodskylong.com/investigations/bridgepoint-education-inc-bpi-2015.
Bridgepoint is a for-profit provider of postsecondary education
services. The Complaint alleges that throughout the Class Period,
defendants made materially false and misleading statements, and
omitted materially adverse facts, about the Company’s business,
operations and prospects. Specifically, the Complaint alleges that
the defendants concealed from the investing public: (1) that the
Company had applied improper revenue recognition methodology to
assess collectability of funds owed by students; (2) that, as a
result, the Company’s revenues and financial results were
overstated; (3) that, as such, the Company’s financial statements
were not prepared in accordance with Generally Accepted Accounting
Principles (“GAAP”); (4) that the Company lacked adequate internal
and financial controls; and (5) that, as a result of the foregoing,
the Company’s financial statements were materially false and
misleading at all relevant times. As a result of defendants’
alleged false and misleading statements, the Company’s stock traded
at artificially inflated prices during the Class Period.
According to the Complaint, on May 30, 2014, Bridgepoint filed a
current report with the SEC on Form 8-K announcing that the
Company’s management had determined that its financial statements
filed with the SEC 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,
those 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. In order to be appointed lead plaintiff,
the Court must determine that the class member’s claim is typical
of the claims of other class members, and that the class member
will adequately represent the class. Your ability to share in any
recovery is not, however, affected by the decision whether or not
to serve as a lead plaintiff. Any member of the proposed class may
move the court to serve as lead plaintiff through counsel of their
choice, or may choose to do nothing and remain an absent class
member.
While Rigrodsky & Long, P.A. did not file the Complaint in
this matter, the firm, with offices in Wilmington, Delaware and
Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
Rigrodsky & Long, P.A.Timothy J. MacFall, EsquirePeter
Allocco888-969-4242516-683-3516Fax:
302-654-7530info@rl-legal.comhttp://www.rigrodskylong.com
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