Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of Bridgepoint Education, Inc. Securities Litigation

SAN DIEGO, Jan. 12, 2016 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Bridgepoint Education, Inc. Securities Litigation:

SUMMARY NOTICE

TO:      ALL PERSONS WHO PURCHASED THE COMMON STOCK OF BRIDGEPOINT EDUCATION, INC. ("BRIDGEPOINT") BETWEEN MAY 3, 2011 AND JULY 13, 2012, INCLUSIVE

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of California, that a hearing will be held on April 25, 2016, at 10:00 a.m., before the Honorable Jeffrey T. Miller, United States District Judge, at the United States District Court for the Southern District of California, 221 West Broadway, Courtroom 5D, San Diego, California 92101, for the purpose of determining: (1) whether the proposed settlement of the claims in the Action for the principal amount of $15,500,000.00, plus interest, should be approved by the Court as fair, just, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Action with prejudice; (3) whether the Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys' fees and expenses and Lead Plaintiffs' expenses in connection with this Action should be approved.

IF YOU PURCHASED THE COMMON STOCK OF BRIDGEPOINT BETWEEN MAY 3, 2011, AND JULY 13, 2012, INCLUSIVE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.  If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form, you may obtain copies by writing to Bridgepoint Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 8040, San Rafael, CA 94912-8040, or on the internet at www.bridgepointsecuritieslitigation.com.  If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail (postmarked no later than April 27, 2016) or submitted electronically no later than April 27, 2016, establishing that you are entitled to recovery.

If you are a Class Member and you desire to be excluded from the Class, you must submit a request for exclusion such that it is postmarked no later than February 17, 2016, in the manner and form explained in the detailed Notice, referred to above.  All Class Members who do not timely and validly request exclusion from the Class in response to the Notice will be bound by any judgment entered in the Action pursuant to the Stipulation.

Any objection to the Settlement, the Plan of Allocation, or the fee and expense application must be mailed to each of the following recipients, such that it is received no later than February 17, 2016:

SOURCE Robbins Geller Rudman & Dowd LLP

Related Links

http://www.bridgepointsecuritieslitigation.com