Faruqi & Faruqi, LLP Reminds K12, Inc. Investors of Approaching Deadline in Securities Class Action Lawsuit Filed By the Firm

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Feb 07, 2012, 06:00 ET

NEW YORK, Feb. 7, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, filed the first, and only, class action lawsuit against K12, Inc. ("K12" or the "Company") (NYSE: LRN) for securities fraud on January 30, 2012 in the United States District Court for the Eastern District of Virginia. Faruqi & Faruqi reminds current and former shareholders of K12 that they have until April 2, 2012 to move for appointment as lead plaintiff in the case. The Complaint asserts claims under the Securities Exchange Act of 1934 ("Exchange Act") on behalf of investors in K12 common stock during the period between September 9, 2009 and December 16, 2011, inclusive (the "Class Period").

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Recently, K12 announced that it suffered a 46% drop in net income as a result of higher expense costs in its Q2 2012 earnings release. The Company said its net income for the quarter ended December 31 was $4.2 million, or 11 cents per share, down 46% from $7.8 million, or 23 cents per share, during the same period a year before.

Take Action

If you purchased K12 securities between September 9, 2009 and December 16, 2011 and wish to join this litigation as a plaintiff, please contact our office as soon as possible. We encourage investors who would like to discuss their legal rights to visit www.faruqilaw.com/LRNX, or contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected] or [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding K12's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. Our firm seeks to recover damages on behalf of the Class.

Request more information now by clicking here: www.faruqilaw.com/LRNX

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential matter.

FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
[email protected]
Francis McConville, Esq.
[email protected]
Telephone: (877) 247-4292 or (212) 983-9330

SOURCE Faruqi & Faruqi, LLP