INVESTOR ALERT: Investigation of K12 Inc. Announced by Law Offices of Howard G. Smith

August 03, 2016 10:30 AM Eastern Daylight Time

BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of
investors of K12 Inc. (“K12” or the “Company”) (NYSE: LRN)
concerning the Company and its officers’ possible violations of federal
securities laws.

online charter schools had significantly weaker academic
performance in math and reading, compared with their counterparts in
conventional schools.”

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On October 27, 2015, Stanford’s Center for Research on Education
Outcomes (“CREDO”) published a study concerning online charter schools
that specifically mentioned K12. Based on their findings, CREDO stated
that “online charter schools had significantly weaker academic
performance in math and reading, compared with their counterparts in
conventional schools.” Additionally, that same day, K12 revealed that it
had received a civil investigative subpoena from the Attorney General of
California on September 24, 2015.

Over the next three days, K12’s stock price fell $0.54 per share, over
5%, to close at just $9.71 on October 30, 2015.

If you purchased K12 securities, have information or would like to learn
more about these claims, or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. SmithHoward G. Smith, Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com

Law Offices of Howard G. Smith

Release Summary

INVESTOR ALERT: Investigation of K12 Inc. Announced by Law Offices of Howard G. Smith

Contacts

Law Offices of Howard G. SmithHoward G. Smith, Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com

Robbins Arroyo LLP: K12, Inc. (LRN) Misled Shareholders According to a Recently Filed Class Action

July 22, 2016 07:59 PM Eastern Daylight Time

SAN DIEGO & HERNDON, Va.–(BUSINESS WIRE)–Shareholder rights law firm Robbins Arroyo LLP announces
that a class action complaint was filed against K12, Inc. (NYSE: LRN) in
the U.S. District Court for the Northern District of California. The
complaint is brought on behalf of all purchasers of K12 securities
between November 7, 2013 and October 27, 2015, for alleged violations of
the Securities Exchange Act of 1934 by K12’s officers and directors. K12
Inc., a technology-based education company, offers proprietary
curriculum, software systems, and educational services to facilitate
individualized learning for students primarily in kindergarten through
12th grade.

“In the Matter of the Investigation of:
For-Profit Virtual Schools.”

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View this information on the law firm’s Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/k12-inc-july-2016

K12 Accused of Lying About The Success Rate of Its Students

According to the complaint, throughout the class period, K12 filed
several press releases and submitted multiple filings with the U.S.
Securities and Exchange Commission touting the company’s business
prospects. The company issued a press release on February 4, 2014,
stating, “Our Managed Schools are now…using many of the new educational
programs we put in place this year which we believe will improve
educational outcomes for all engaged families.” The company further
emphasized that improving academic outcomes is its number one priority
and that it would invest in new systems to drive further improvements
for its students. However, the complaint alleges that K12 officials
failed to disclose that: (1) K12 was publishing misleading
advertisements about students’ academic progress, parent satisfaction,
their graduates’ eligibility for University of California and California
State University admission, class sizes, the individualized and flexible
nature of K12’s instruction, hidden costs, and the quality of the
materials provided to students; (2) K12 submitted inflated student
attendance numbers to the California Department of Education in order to
collect additional funding; (3) as a result, K12 was open to potential
civil and criminal liability; and (4) the company would likely be forced
to end these practices, which would have a negative impact on K12’s
operations and prospects.

On October 27, 2015, Stanford’s Center for Research on Education
Outcomes published a study and a related press release about online
charter schools, including K12, stating, “Innovative new research
suggests that students of online charter schools had significantly
weaker academic performance in math and reading, compared with their
counterparts in conventional schools.” On the same day, K12 reported
disappointing first quarter 2016 financial results compared to the same
quarter in fiscal year 2015, including revenues of $221.2 million
compared to $236.7 million, Earnings Before Interest, Taxes,
Depreciation and Amortization of negative $3.9 million compared to $3.7
million, and an operating loss of $20.5 million compared to an operating
loss of $13.2 million. On October 27, 2015, K12 disclosed in its Form
10-Q that it received a subpoena from the Attorney General of the State
of California, Bureau of Children’s Justice in connection with an
investigation known as “In the Matter of the Investigation of:
For-Profit Virtual Schools.” On this news, K12 stock fell over 20% to
close at $9.71 per share on October 30, 2015.

K12 Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Darnell R. Donahue at
(800) 350-6003, DDonahue@robbinsarroyo.com,
or via the shareholder
information form
on the firm’s website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.

Attorney Advertising. Past results do not guarantee a similar outcome.

Contacts

Robbins Arroyo LLPDarnell R. Donahue619-525-3990 or Toll
Free 800-350-6003DDonahue@robbinsarroyo.comwww.robbinsarroyo.com

Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of K12, Inc. – MarketWatch

press release

Feb. 4, 2014, 3:24 p.m. EST

Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of K12, Inc.

BENSALEM, Pa., Feb 04, 2014 (BUSINESS WIRE) – Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of K12, Inc. (“K12” or the “Company”) LRN -0.89% concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by the Company concerning K12’s operations and financial prospects between March 11, 2013 and October 9, 2013.

K12 is a technology-based education company offering proprietary curriculum, software systems and educational services through full-time virtual schools and blended schools for students primarily in kindergarten through 12th grade. The investigation is related to allegations that during the foregoing period the Company and certain of its executive officers misrepresented or failed to disclose that the Company had not adequately invested in promotional efforts to enroll new students in fiscal 2014, causing a material decline in student applications for fiscal 2014, and that the Company’s enrollment centers did not have adequate school-by-school planning tools or a staffing model in place sufficient to handle the timing and the volume of student applications.

If you purchased K12 common stock between March 11, 2013 and October 9, 2013, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

SOURCE: Law Offices of Howard G. Smith

Law Offices of Howard G. SmithHoward G. Smith, Esquire(215) 638-4847(888) 638-4847 howardsmith@howardsmithlaw.com www.howardsmithlaw.com

Copyright Business Wire 2014

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press release

Jan. 31, 2014, 9:00 p.m. EST

Harwood Feffer LLP Announces Investigation of K12 Inc.

NEW YORK, Jan. 31, 2014 /PRNewswire/ – Harwood Feffer LLP ( www.hfesq.com) is investigating potential claims against the board of directors of K12 Inc. (“K12” or the “Company”) (NYSE: LRN), concerning whether the board has breached its fiduciary duties to shareholders.

During the first ten months of 2013, the Company publicly disclosed that it was on track to have “one of the best business development years” in the Company’s history, and projected even higher growth for 2014.  Then, in October 2013, the Company admitted that it had not devoted sufficient time and money to promotional programs, harming student enrollments.  Additionally, the Company admitted that it did not “appropriately” considered new compliance requirements governing the 2014 enrollment season in certain states.  On this news, Company stock dropped from over $37 per share to below $20 per share in a matter of days. 

Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.

If you own LRN shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Robert I. Harwood, Esq.Matthew M. Houston, Esq.Benjamin I. Sachs-Michaels, Esq.Harwood Feffer LLP488 Madison AvenueNew York, New York 10022Phone Numbers: (877) 935-7400                         (212) 935-7400Email:  bsachsmichaels@hfesq.comWebsite:    http://www.hfesq.com

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website ( http://www.hfesq.com) for more information about the firm.

Attorney Advertising. © 2014 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP ( www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.

SOURCE Harwood Feffer LLP

Copyright (C) 2014 PR Newswire. All rights reserved

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K12 Inc. (NYSE:LRN) Investor Alert: Investigation over Possible Violations of Securities Laws

An investigation for investors in K12 Inc. (NYSE:LRN) shares over potential securities laws violations by K12 Inc was announced and NYSE:LRN stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 

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San Diego, CA – (SBWIRE) – 01/15/2014 – An investigation on behalf of investors who purchased shares of K12 Inc. (NYSE:LRN) between September 12, 2012 and October 8, 2013 over potential securities laws violations by K12 Inc. and certain of its directors and officers in connection certain financial statements was announced .



If you purchased shares of K12 Inc. (NYSE:LRN) between September 12, 2012 and October 8, 2013, you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.



The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of K12 Inc. (NYSE:LRN) concerning whether a series of statements by K12 Inc. (NYSE:LRN. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.



In December 2012 a media report entitled “Profits and Questions at Online Charter Schools” raised serious concerns about K12’s business practices, alleging that its schools inflate their student rosters, are underperforming academically, have detrimental student-to-teacher ratios and gain wrongful access to public funds. Shortly after that a lawsuit was filed against K12 Inc. over alleged securities laws violations. The lawsuit was filed on behalf of investors who purchased K12, Inc. common stock during the period between September 9, 2009 and December 16, 2011. In 2013 the lawsuit settled for $6.75 million.



On Auhust 29, 2013, K12 Inc. reported its full fiscal year 213 financial results. K12 Inc’s Total Revenue rose from $708.41 per share for the 12 months period that ended on June 30, 2012 to $848.22 million for the 12 months period that ended on June 30, 2013 and its respective Net Income increased from $17.54 million to $28.11 million.



Shares of K12 Inc. (NYSE:LRN) grew from $16.27 per share in late 2012 to as high as $36.78 per share in September 2013.



Then on October 8, 2013, K12 Inc. announced it plans to host a conference call to discuss full fiscal year 2014 guidance on Thursday, October 10, 2013. K12 Inc. said that it is reporting Q1 FY 2014 average student enrollments1Q1 average student enrollments are equal to the official count date number, which is the first Wednesday of October in a year. in managed public schools of 128,550, an increase of 5.7% over Q1 FY 2013, which is below management’s expectations. K12 Inc. also said that it expects full fiscal year revenues in the range of $905 million to $925 million and full year operating income in the range of $53 million to $57 million.



Shares of K12 Inc. (NYSE:LRN) declined to $17.60 per share on October 9, 2013.



Those who purchased shares of K12 Inc. (NYSE:LRN), have certain options and should contact the Shareholders Foundation.



Contact:

Shareholders Foundation, Inc.

Trevor Allen

3111 Camino Del Rio North – Suite 423

92108 San Diego

Phone: +1-(858)-779-1554

Fax: +1-(858)-605-5739

mail@shareholdersfoundation.com

 

Media Relations Contact

Trevor Allen

General Manager

Shareholders Foundation, Inc.

858-779-1554

Email

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Source: Shareholders Foundation, Inc.

Posted Wednesday, January 15, 2014 at 8:30 AM CST – Permalink