On October 27, 2015, a study about online charter schools was published by Stanford's Center for Research on Education Outcomes ("CREDO") and explicitly mentioned K12. In the press release, CREDO stated that "[i]nnovative 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 that same day, K12 reported poor financial results for the first quarter of fiscal year 2015. Following these releases, K12 stock dropped $1.93 per share, or 15.8%, to close at $10.25 on October 27, 2015. On that same day, after market hours, K12 filed its 10-Q Quarterly for the same fiscal quarter, and disclosed that it had received a subpoena from the Attorney General of the State of California, Bureau of Children's Justice regarding an investigation styled "In the Matter of the Investigation of: For-Profit Virtual Schools." Over the next three days, K12 stock dropped a cumulative $0.54 per share, or 5.2%, to close at $9.71 on October 30, 2015.
If you purchased K12 shares or if you are aware of any facts relating to this investigation, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/#!k12/crqwx. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
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