LRN FILING DEADLINE TOMORROW: Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against K12 Inc.
NEW YORK, Jan. 18, 2021 (GLOBE NEWSWIRE) – Bernstein Liebhard, a nationally recognized investor rights law firm, is reminding investors of the deadline to file a motion by a lead plaintiff in a class action lawsuit filed on behalf of investors that occurred between Jan. April 18, 2020 and September 18, 2020 (the “Class Period”) purchased or acquired securities of K12 Inc. (“K12” or the “Company”) (: LRN). The lawsuit filed in the US District Court for the Eastern District of Virginia alleges violations of the Securities Exchange Act of 1934.
If you Bought K12 securities and / or wish to discuss your legal rights and options Please visit K12 Shareholder Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].
The complaint alleges that throughout the teaching period, the defendants made materially false and misleading statements about the company’s business, operations, and prospects. In particular, Defendants made false and / or misleading statements and / or failed to disclose: (1) K12 lacked the technological skills, infrastructure and expertise to support the increased demand for virtual and mixed education required by the global pandemic. (2) K12 lacked adequate cyber-attack protocols and protective measures to prevent the deactivation of its computer systems. (3) K12 was unable to provide teachers, students and parents with the necessary administrative support and training. (4) and the executives of K12 lacked a reasonable basis for positive statements about the company’s business, operations and prospects.
On August 26, 2020, it was reported that K12’s training for public school teachers in Miami-Dade County, one of the largest school districts in the country, was ineffective and unacceptable. In the news, K12’s shares fell 7% in two trading days.
When classes began in Miami-Dade on August 31, 2020, the K12 platform experienced major technical issues, glitches and a number of cyberattacks. In response, the district superintendent announced that the district had never signed its $ 15.3 million contract with K12. In this news, the price of K12 shares fell 10.5% in two trading days.
A week later, the Miami-Dade County Public School board voted to terminate her contract with K12. In this news, the price of K12 common stock fell sharply again, 11.5%, closing at $ 30.55 on September 10, 2020.
If you want to serve as the lead plaintiff, you must transfer the court no later than January 19, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you don’t take action, you may remain an absent class member.
If you Bought K12 securities and / or wish to discuss your legal rights and options Please visit https://www.bernlieb.com/cases/k12inc-lrn-shareholder-class-action-lawsuit-stock-fraud-333/apply/ or contact Matthew E. Guarnero toll-free at (877) 779-1414 or [email protected].
Since 1993, Bernstein Liebhard LLP has collected over $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to monitor their assets and litigate on their behalf. Based on the success of hundreds of lawsuits and class actions, the firm has been hot listed thirteen times by the National Law Journal and listed on The Legal 500 for ten consecutive years.
LAWYER. © 2020 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this Connecticut state complaint is Michael S. Bigin. Past results do not guarantee or forecast a similar result with respect to future matters.
Matthew E. Guarnero
Bernstein Liebhard LLP