Glancy
Binkow & Goldberg LLP reminds investors that all purchasers of
the common stock of K12,
Inc. (“K12” or the “Company”) (NYSE:LRN) between March 11, 2013 and
October 9, 2013, inclusive (the “Class Period”), have until April 1,
2014, to file a motion to be appointed as lead plaintiff in the
shareholder lawsuit.
The Complaint filed in the United States District Court for the Eastern
District of Virginia alleges that the Company and certain of its
executive officers misrepresented or failed to disclose that:
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Between March 2013 and June 2013, K12 experienced a material decline
in student applications for fiscal 2014.
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K12’s enrollment centers did not have adequate school-by-school
planning tools or a staffing model sufficient to handle the timing and
volume of student applications.
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K12’s promotional program drove more leads and applications later in
the summer – when it was too late for the Company to convert the
applications into student enrollments for fiscal 2014.
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K12 failed to appropriately consider increased compliance requirements
that were applicable in certain states during the fiscal 2014
enrollment season.
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The Company failed to implement a sufficient early-warning system to
detect operational failures in the enrollment process.
To be a member of the Class, you need not take any action at this time;
you may retain counsel of your choice or take no action and remain an
absent member of the Class. If you wish to learn more about this action
or have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888)
773-9224, or contact Gregory
Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd
Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by
e-mail to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com.
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jurisdictions under the applicable law and ethical rules.
Copyright Business Wire 2014