The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Business Wire

Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Bridgepoint Education, Inc.

Sunday, August 26, 2012

Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Bridgepoint Education, Inc.08:30 EDT Sunday, August 26, 2012 LOS ANGELES (Business Wire) -- The Law Offices of Todd M. Garber announces that shareholders of Bridgepoint Education, Inc. (“Bridgepoint” or the “Company”) (NYSE:BPI) have until September 11, 2012 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the Southern District of California. The lawsuit was filed on behalf of a class (the “Class”) comprising all persons or entities who purchased Bridgepoint securities of between May 3, 2011 and July 12, 2012, inclusive (the “Class Period”). Bridgepoint is a provider of post-secondary education services. The Complaint alleges that defendants misrepresented and/or failed to disclose that: (1) the Company failed to implement adequate plans, procedures and practices to assist students in completing academic programs; (2) the Company failed to align resources with educational requirements, hampering its students' ability to progress to acceptable levels; (3) the Company's Ashford University – one of the Company's two regionally accredited academic institutions – failed to maintain an adequate number of faculty and programs, resulting in poor instruction and low completion rates by students; (4) the Company had inadequate review procedures such that shortfalls in completion rates were not timely identified and remedied; (5) Ashford University failed to maintain an empowered and independent governing board; and (6) as a result of the above, the Company's financial statements were materially false and misleading at all relevant times. If you are a member of the above-described Class, you may move the Court no later than September 11, 2012 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time. You may retain counsel of your choice or take no action and remain an absent Class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to info@toddgarberlaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Law Offices of Todd M. GarberTodd M. Garber, Attorney at LawLos Angeles, California213-700-7262info@toddgarberlaw.com