Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action against Bridgepoint Education, Inc. and Lead Plaintiff Deadline.
NEW YORK, Feb. 27, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a securities class action has been filed in the United States District Court for the Souther District of California on behalf of those who purchased shares of Bridgepoint Education, Inc. ("Bridgepoint" or the "Company") (NYSE:BPI), during the period between August 7, 2012 and May 30, 2014 inclusive. (the "Class Period").
The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose material information regarding the Company's business, operations, and prospects.
The Complaint alleges that defendants made false and/or misleading statements and/or failed to disclose to investors that: (1) the Company had applied an improper revenue recognition methodology to assess collectability of funds owed by students; (2) as a result, the Company's revenues and financial results were overstated; (3) the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP"); (4) the Company lacked adequate internal and financial controls; and (5), as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.
On May 30, 2014, BPI announced that its financial statements filed with the SEC for the years ended December 31, 2011 and December 31, 2012, as well as the financial statements issued for the quarters ended March 31, 2012, June 30, 2012 and September 30, 2012, should no longer be relied upon. According to BPI, these financial statements contained errors related to revenue recognition that resulted in material misstatements of revenue, bad debt expense, and accounts receivable.
Plaintiff seeks to recover damages on behalf of all shareholders who purchased shares of Bridgepoint 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 [email protected]. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Bridgepoint you have until April 27, 2015 to request that the Court appoint you as lead plaintiff. 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.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
[email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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