Pittsburgh Law Office of Alfred G. Yates Jr., PC Files Shareholder Class Action Lawsuit Against Education Management Corporation (EDMC)
PITTSBURGH, Oct. 8, 2014 /PRNewswire/ -- Notice is hereby given that the Law Office of Alfred G. Yates Jr., PC has filed a shareholder class action against Education Management Corporation ("EDMC" or the "Company") (Nasdaq: EDMC) and certain of its officers. The class action, filed in United States District Court, Western District of Pennsylvania, and docketed under 14-cv-01287, is on behalf of a class consisting of all persons or entities who purchased EDMC securities between August 8, 2012 and September 16, 2014, inclusive (the "Class Period").
If you are a shareholder who purchased EDMC securities during the Class Period, you have until November 18, 2014 to ask the Court to appoint you as Lead Plaintiff for the class. If you are an EDMC investor and have any questions, please contact Alfred G. Yates Jr., Esquire at 1-800-391-5164, toll free. You may also contact him by email at [email protected] or through the law office web site at http://yatesclassactionlaw.com/contact_us.php. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) EDMC was overstating revenue by not properly increasing its bad debt reserve upon student withdrawals; (2) EDMC was overstating goodwill; (3) EDMC manipulated federal student loan and grant programs in order to appear to be in compliance with new federal regulations enacted in June 2011; (4) EDMC's predatory and deceptive recruiting and enrollment practices violated federal regulations enacted beginning in June 2011 and (5) as a result of the foregoing, EDMC's public statements were materially false and misleading at all relevant times.
Contact:
Alfred G. Yates Jr., Esquire
1-800-391-5164
[email protected]
SOURCE Alfred Yates, Esq.
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