This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Harwood Feffer LLP Announces Investigation Of Bridgepoint Education, Inc.

NEW YORK, July 19, 2012 /PRNewswire/ --  Harwood Feffer LLP ( www.hfesq.com) is investigating potential claims against the board of directors of Bridgepoint Education, Inc. ("Bridgepoint" or the "Company") (NYSE: BPI) concerning whether the board has breached its fiduciary duties to shareholders.

(Logo: http://photos.prnewswire.com/prnh/20120215/MM54604LOGO )

Bridgepoint operates Ashford University ("Ashford"), the University of the Rockies, and online institutions.  During May and June 2011, the eligibility review committee of the Western Association of Schools and Colleges ("WASC") notified Ashford that its accreditation was at risk due to: (a) inadequate student retention and completion, (b) insufficient student progress tracking, (c) an insufficient core of full-time faculty members, and (d) lack of an empowered and independent governing board.

On June 25, 2012, the Higher Learning Commission ("HLC") notified Ashford that it has until December 1, 2012 to demonstrate that it has a "substantial presence" in the 19-state north central region of the United States.  On July 9, 2012, Bridgepoint filed a Form 8-K with the SEC disclosing that on July 5, 2012, Ashford had received an official notice denying its accreditation application by the Accrediting Commission for Senior Colleges and Universities of the WASC. Subsequently on July 9, 2012, Bridgepoint issued a press release announcing that Ashford would appeal the decision and re-apply for WASC accreditation.  On this news, shares of Bridgepoint common stock dropped nearly 34%, closing at $14.25 per share on July 9, 2012 from $21.50 the previous day, on volume of 1.2 million shares. 

If you own Bridgepoint shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs