The law firm of Lieff, Cabraser, Heimann & Bernstein, LLP announces that a class action lawsuit has been brought on behalf of all persons who purchased the securities of Bridgepoint Education, Inc. (“Bridgepoint” or the “Company”) (NYSE: BPI) between May 3, 2011 and July 12, 2012, inclusive (the “Class Period”).
If you purchased Bridgepoint securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than September 11, 2012. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
Bridgepoint shareholders who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon Lee of Lieff Cabraser toll free at (800) 541-7358.
Background on the Bridgepoint Securities Class ActionBridgepoint is a provider of postsecondary education services. The action charges Bridgepoint and certain of its offices and directors with violations of the federal securities laws. The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the Company failed to implement adequate plans, procedures and practices to assist students in completing the academic programs in which they had enrolled; (ii) the Company failed to align resources with educational requirements, hampering its students’ ability to progress to acceptable levels; (iii) the Company's Ashford University failed to maintain an adequate number of faculty and programs, resulting in poor instruction and low student completion rates; (iv) the Company had inadequate review procedures such that shortfalls in completion rates were not identified and remedied in a timely manner; and (v) Ashford University failed to maintain an empowered and independent governing board.