OAKLAND, Calif.--(BUSINESS WIRE)--Shares of Adtalem Global Education, Inc. dropped over 23% on January 30, 2024, after Safkhet Capital published a report alleging that the company’s business model uses deceptive tactics and pushes students into debt. Gibbs Law Group is investigating a potential Adtalem Securities Class Action Lawsuit on behalf of shareholders who lost money in Adtalem (NYSE: ATGE).
What Should ATGE Investors Do?
If you invested in Adtalem Global Education, visit our website by clicking here, or call us toll-free at (888) 410-2925 to discuss how you may be able to recover your losses. If you purchased Adtalem securities during the Class Period, you may be entitled to potential compensation without paying any out-of-pocket fees or costs.
What is this Lawsuit & Investigation About?
On January 30, 2024, Safkhet Capital published a blistering report, alleging that Adtalem, the for-profit education company, is “a toxic byproduct of an imperfect higher education system.” Safkhet Capital claims that Adtalem’s business model is "made possible by aggressive and sometimes deceptive tactics” adding that "[e]xpired program participation agreements across most of ATGE’s schools create the risk of greater collateral requirements and delays in the permitted drawdown of federal funds,” as reported by ZeroHedge. In November, Walden University which was acquired by Adtalem, was put under investigation by the Department of Education.
Following the short seller report, Adtalem stock plummeted over 23% in intraday trading on January 30th, causing significant harm to investors.
About Gibbs Law Group
Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Class Action Practice Group of the Year,” “Consumer Protection MVP,” and “Top Women Lawyers in California.”
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