The Shareholders Foundation announced that a deadline is coming up on April 27, 2016 in the settlement reached in the securities class action lawsuit filed for investors in NYSE: BPI shares between May 3, 2011 and July 13, 2012.
Investors who purchased a significant amount of shares of Bridgepoint Education Inc (NYSE: BPI) between May 3, 2011 and July 13, 2012, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Bridgepoint Education Inc (NYSE: BPI) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/bridgepoint-education-inc-nyse-bpi-investor-securities-class-action-lawsuit-07132012
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is April 27, 2016. The class action administrator for this case is Gilardi & Co. LLC.
The lawsuit was originally filed in the U.S. District Court for the Southern District of California against Bridgepoint Education Inc over alleged Violations of Federal Securities Laws in connection with certain allegedly false financial statements regarding Ashford University’s accreditation made between May 3, 2011 and July 6, 2012. According to the complaint the plaintiff alleges on behalf of purchasers of Bridgepoint Education Inc (NYSE: BPI) common stock during the period between May 3, 2011 and July 6, 2012, that Bridgepoint Education Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding Bridgepoint Education Inc’s business and prospects. Specifically, so the plaintiff, defendants concealed accreditation problems with Bridgepoint Education Inc’s Ashford campus.
On July 9, 2012, Bridgepoint Education Inc (NYSE: BPI) disclosed in a filing with the U.S. Securities and Exchange Commision (“SEC”) that its Ashford University received official notice from the Accrediting Commission for Senior Colleges and Universities of the Western Association of Schools and Colleges (“WASC”) that WASC has acted to deny initial accreditation to the institution and to permit the institution to reapply for accreditation with a single special visit to occur as early as spring 2013. Bridgepoint Education Inc said that WASC found that Ashford University had not yet demonstrated substantial compliance with certain of the WASC Standards for Accreditation, as would be required for initial accreditation.
The plaintiff claims that as a result of defendants’ allegedly false statements, Bridgepoint Education Inc (NYSE: BPI) stock traded at artificially inflated prices between May 3, 2011 and July 6, 2012, reaching a high of $30.50 per share on July 22, 2011.
Those who purchased shares of Bridgepoint Education Inc (NYSE: BPI) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
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