The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been brought on behalf of those who purchased or otherwise acquired the common stock of K12, Inc. (“K12” or the “Company”) (NYSE:LRN) between March 11, 2013 and October 9, 2013, inclusive (the “Class Period”).
If you purchased or acquired K12 common stock during the Class Period, you may move the Court for appointment as lead plaintiff by no later than April 1, 2014. 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.
K12 investors who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.
Background on the K12 Securities Class LitigationK12, based in Herndon, Virginia, is a technology-based education company engaged in the operation and expansion of virtual schools for students in kindergarten through 12th grade. The action alleges that defendants violated sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing materially misleading statements and omitting material information about the Company regarding its student enrollment and revenue growth prospects for fiscal 2014, as well as its compliance with state regulations governing enrollment. During the Class Period, K12 publicly endorsed analysts’ fiscal 2014 financial guidance for the Company and assured investors that K12 was “on track to have one of the best business development years” in its history, which was supposed to “drive even higher growth for fiscal 2014” than in fiscal 2013. Defendants also allegedly falsely touted K12’s “serious” attention to regulatory compliance.