The law firm of Kirby McInerney LLP is investigating potential claims against Stride, Inc. (“Stride” or the “Company”) (NYSE: LRN). The investigation concerns whether Stride and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
[Click here to learn more about the investigation]
On October 16, 2024, Fuzzy Panda Research published a report on Stride alleging that the Company inflated its earnings by misleading the market about the impact of federal COVID-19 relief funds. According to the report, 25% of the Company’s EBITDA came from Elementary and Secondary School Emergency Relief (ESSER) funds expiring in September 2024. The report also accuses Stride of hiding “ghost students” and failing to disclose schools leaving the Company, alongside allegations of overbilling and fraudulent reimbursement claims. On this news, the price of Stride shares declined by $6.55 per share, or approximately 9.3%, from $70.59 per share on October 15, 2024, to close at $64.04 on October 16, 2024.
If you purchased or otherwise acquired Stride securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
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