The law firm of Wohl & Fruchter LLP announces that it has commenced an investigation into whether officers and directors of Bridgepoint Education, Inc. (Bridgepoint) (NYSE: BPI) violated their disclosure obligations to shareholders in connection with Bridgepoint’s accreditation status.

Bridgepoint offers postsecondary education through online programs and at two physical campuses. On July 9, 2012, Bridgepoint announced that one of its campuses, Ashford University, had been denied accreditation by the Western Association of Schools and Colleges (WASC). Bridgepoint initiated application for WASC accreditation in recognition of the migration of a substantial portion of its activities into WASC’s geographic region. Bridgepoint further disclosed that its current regional accrediting body, the Higher Learning Commission of the North Central Association of Schools and Colleges (HLC), has required it to demonstrate continuing eligibility for HLC accreditation by December 1, 2012.

In a letter published on its website, WASC stated that Ashford University had failed to comply with multiple WASC standards, including those related to student retention, the rigor of coursework, maintaining a core of full-time faculty, and having an independent governing board.

On this news, shares of Bridgepoint declined over 33% to close at $14.25 per share on July 9, 2012, representing a loss of more than $350 million in shareholder value.

Wohl & Fruchter’s investigation concerns whether officers and directors of Bridgepoint improperly made false or misleading statements concerning accreditation. Loss of accreditation would affect Bridgepoint’s continued eligibility for federal student aid, which is the source of the majority of its revenue.

Persons with relevant information, and BPI shareholders with questions about this investigation, are invited to contact our Firm by calling 866 582 8140.

Additional information is available on our website at:

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