Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of investors of Bridgepoint Education, Inc. ("Bridgepoint" or the “Company”) (NYSE:BPI) concerning possible violations of federal securities laws. The investigation is focused on the Company’s financial performance.
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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 Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.