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Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of Bridgepoint Education, Inc. ("Bridgepoint" or the “Company”) (NYSE:BPI). The investigation concerns possible violations of federal securities laws and focuses on the Company’s financial performance.
Bridgepoint provides postsecondary education services, including undergraduate and post-graduate degree programs in business, education, psychology, social sciences and health sciences. The investigation is related to Bridgepoint’s May 12, 2014, disclosure that the Company, in connection with a reassessment of its revenue recognition policy and accounting for doubtful accounts, will be unable to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, by the filing deadline. According to the Company, on May 2, 2014, the Securities and Exchange Commission informed the Company that “such a reassessment is required under accounting principles generally accepted in the United States upon certain changes in circumstances, such as when a student loses financial aid eligibility.” The Company further disclosed that based on its internal analysis to date, “management has preliminarily estimated that application of a student-by-student reassessment during the quarter ended March 31, 2014 resulted in decreases in revenue and bad debt expense of $0.7 million and $0.2 million, respectively.”
If you purchased Bridgepoint shares, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to
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