K12 Inc. : Newman Ferrara LLP Pursues Securities Fraud Claims Against K12, Inc. and Reminds Investors of April 17, 2012 Deadline
03/01/2012| 12:15pm US/Eastern
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Newman Ferrara LLP (www.nfllp.com)
announced today that a securities class action was filed on behalf of
investors in K12, Inc. ("K12" or the "Company") (NYSE: LRN) in the U.S.
District Court for the Eastern District of Virginia.
Investors who purchased shares of the Company's common stock between
September 9, 2009 and December 16, 2011 (the "Class Period"), and lost
more than $100,000, are encouraged to contact Newman Ferrara partner
Jeffrey M. Norton at (212) 619-5400 or jnorton@nfllp.com to
discuss this action, the lead plaintiff process, or any questions
concerning this notice. If you wish to serve as lead plaintiff, you must
apply to be appointed by April 2, 2012. The lead plaintiff
will direct the litigation and participate in important decisions
including whether to accept a settlement and how much of a settlement to
accept for the Class in the action. Lead plaintiffs are selected from
among applicants claiming the largest loss from investment in the
Company during the Class Period.
According to the Complaint, K12, an educational service software
company, failed to disclose that: (1) it engaged in fraudulent
recruiting and sales strategies designed to attract students
irrespective of their potential to properly complete the curriculum; (2)
that its infrastructure purposely pressured its employees to pass
students despite insufficient demonstration that the students had met
the criteria for completion of the material; (3) that its results with
math and reading performance did not meet minimum statewide standards
for those subjects; and (4) its assertions made to investors regarding
its overall financial and academic success were false and misleading.
Whistleblowers: Persons with knowledge that may aid in the
investigation of this matter are encouraged to contact the firm. Under
Dodd-Frank Wall Street Reform Bill, whistleblowers are protected from
employer retaliation and may be entitled to as much as 30 percent of the
recovery if the information provided leads to a successful action.
Newman Ferrara maintains a multifaceted practice based in New York City
with attorneys specializing in complex commercial and multi-party
litigation with an emphasis on securities, ERISA, consumer fraud,
products liability, civil rights and real estate. For more information,
please visit the firm website at www.nfllp.com.
Newman Ferrara LLP
Jeffrey M. Norton, 212-619-5400
jnorton@nfllp.com
http://www.nfllp.com
© Business Wire 2012
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