July 20, 2012
/PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Bridgepoint Education, Inc. ("Bridgepoint" or the "Company") (NYSE: BPI).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) the Company had failed to implement plans, procedures and practices to sufficiently assist students in staying with the programs they enrolled in and complete the courses; (2) the Company failed to align resources with educational requirements such that students were not benefitting from the resources available and were therefore not progressing to an acceptable level; (3) the Company's
campus failed to maintain a sufficient core of faculty and programs to develop faculty, leading to poor teaching and poor completion rates by students; (4) Bridgepoint had inadequate review procedures such that shortfalls were not quickly identified and remedied; and (5)
failed to maintain an empowered and independent governing board.
In May and
, the Western Association of Schools and Colleges ("WASC") and its eligibility review committee notified Bridgepoint's
campus of its concerns regarding the institution's future accreditation. Then, on
July 9, 2012
, Bridgepoint filed a Form 8-K with the SEC disclosing that on
July 5, 2012
had received an official notice rejecting its accreditation application by the WASC. On this news, Bridgepoint stock plunged
per share to close at
per share on
July 9, 2012
, a decline of nearly 34%.
Request more information now by clicking here: www.faruqilaw.com/BPI. There is no cost or obligation to you.
If you purchased Bridgepoint securities between
May 3, 2011
July 6, 2012
and would like to discuss your legal rights, visit
. You can also contact us by calling
toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to
Faruqi & Faruqi, LLP also encourages anyone with information regarding Bridgepoint's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential matter.FARUQI & FARUQI, LLP369 Lexington Avenue, 10th Floor
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Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330