SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Education Management Corporation - EDMC
NEW YORK, Sept. 17, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Education Management Corporation ("Education Management" or the "Company") (NASDAQ: EDMC). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Education Management and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On September 16, 2014, the Company announced that it would be unable to timely file its Report on Form 10-K for the fiscal year ended June 30, 2014 without unreasonable effort or expense due to unresolved comments from the Division of Corporation Finance of the Securities and Exchange Commission related to revenue recognition and related bad debt reserves recorded upon student withdrawals from school. According to the release, the Company intends to file its June 30, 2014 Form 10-K upon resolution of these remaining comments raised by SEC.
On this news, shares of Education Management fell $0.12 per share to $1.10, or more than 9.84%, in intraday trading on September 17, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
SOURCE Pomerantz LLP
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