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 LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
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.
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SOURCE Harwood Feffer LLP