NEW ORLEANS, — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 10, 2019 to file lead plaintiff applications in a securities class action lawsuit against Bridgepoint Education, Inc. (NYSE: BPI), if they purchased the Company’s securities between March 8, 2016 and March 7, 2019 (the “Class Period”). This action is pending in the United States District Court for the Southern District of California.
What You May Do
If you purchased securities of Bridgepoint and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-bpi/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 10, 2019.
About the Lawsuit
Bridgepoint and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 7, 2019, the Company disclosed that its financial statements for the three and nine months ended September 30, 2018 would be restated, and should not be relied upon, due in part to a revenue recording process that was “not designed with sufficient precision,” leading to “material” accounting errors relating to revenue, provision for bad debts, accounts receivable and deferred revenue, which resulted in the overstatement of revenue and expenses.
On this news, the price of Bridgepoint’s shares plummeted.
The case is Stein v. Bridgepoint Education, Inc. et al, 19-cv-00460.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.