A lawsuit was filed on behalf of investors in Bridgepoint Education, Inc. (NYSE: BPI) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 03/18/2019 -- An investor, who purchased shares of Bridgepoint Education, Inc. (NYSE: BPI), filed a lawsuit over alleged violations of Federal Securities Laws by Bridgepoint Education, Inc..
Investors who purchased shares of Bridgepoint Education, Inc. (NYSE: BPI) have certain options and for certain investors are short and strict deadlines running. Deadline: May 10, 2019. NYSE: BPI investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
San Diego, CA based Bridgepoint Education, Inc., together with its subsidiaries, provides postsecondary education services in the United States. As a means of increasing enrollment, Bridgepoint Education, Inc formed various corporate partnerships with employers to offer their employees a way to pursue and complete a college degree without incurring any student debt, referred to as the Corporate Full Tuition Grant ("FTG") program. In 2017, enrollments in the Company's FTG program accounted for approximately 10% of its total enrollment.
On March 7, 2019, Bridgepoint Education, Inc. disclosed that its previously issued financial statements for the three and nine months ended September 30, 2018 should no longer be relied upon. Bridgepoint Education, Inc. further disclosed the "restatement primarily relates to the revenue for the Full Tuition Grant program portion of our student contracts."
The plaintiff claims that between March 8, 2016 and March 7, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Bridgepoint's processes for recording revenue for its FTG program were inaccurate, that Bridgepoint maintained deficient internal controls, that due to the foregoing deficiencies, Bridgepoint was prone to and did commit material accounting errors related to revenue, provision for bad debts, accounts receivable and deferred revenue, which resulted in the overstatement of revenue and expenses, and that as a result, Bridgepoint's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Bridgepoint Education, Inc. (NYSE: BPI) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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