NEW YORK, Feb. 3, 2014 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a securities class action has been filed in the United States District Court for the Eastern District of Virginia on behalf of those who purchased shares of K12, Inc. ("K12") (NYSE: LRN), during the period between March 11, 2013 and October 9, 2013, inclusive (the "Class Period").
The complaint charges K12 and certain of its executives with violations of federal securities laws. The complaint alleges that during the class period K12 and certain of its executives failed to disclose and misrepresented the following: (a) its student enrollment and revenue growth prospects for fiscal 2014, including compliance with state regulations governing enrollment; (b) 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. and (c) falsely touted K12's "serious" attention to regulatory compliance.
On October 8, 2013, K12 filed a Form 8-K with the SEC, revealing that K12's actual fiscal 2014 revenue guidance was $905-$925 million and not the $936.2 million that analysts were looking for. On this news, shares of K12 fell more than 38% to a close at $17.60 on October 9, 2013.
Plaintiff seeks to recover damages on behalf of all K12's shareholders who purchased common stock during the Class Period described above.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. April 1, 2014 is the deadline for investors to seek a lead plaintiff appointment. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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 Eitan Kimelman 212-697-6484
SOURCE Bronstein, Gewirtz & Grossman, LLC