LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Todd M. Garber announces that it is investigating potential claims against Bridgepoint Education, Inc. (“Bridgepoint”) (NYSE:BPI) concerning possible violations of federal securities laws. Bridgepoint is a provider of post-secondary education services. The Company’s two regionally accredited academic institutions, Ashford University and University of the Rockies, deliver programs primarily online but also at traditional campuses.
The investigation is related to allegations that certain statements issued by Bridgepoint between May 3, 2011 and July 12, 2012 were false and/or misleading or failed to disclose material adverse facts about the Company’s business and financial performance. Specifically, the investigation concerns allegations that the Company misrepresented and/or failed to disclose that: (1) the Company failed to implement adequate plans, procedures and practices to assist students in completing the academic programs in which they had enrolled; (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 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 purchased Bridgepoint securities between May 3, 2011 and July 12, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement 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.
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