Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Southern District of California on behalf of shareholders of Zovio Inc. (NYSE: ZVO) f/k/a Bridgepoint Education Inc. and traded as (NYSE: BPI) who purchased shares between March 8, 2016 and March 7, 2019.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Bridgepoint’s processes for recording revenue for its FTG program were inaccurate; (ii) Bridgepoint maintained deficient internal controls; (iii) due to the foregoing deficiencies, Bridgepoint was prone to and did commit material accounting errors related to revenue, provision for bad debts, accounts receivable and deferred revenue, which resulted in the overstatement of revenue and expenses; and (iv) as a result, Bridgepoint’s public statements were materially false and misleading at all relevant times.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until May 10, 2019 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
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