BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Adtalem Global Education Inc. (“Adtalem” or the “Company”) (NYSE: ATGE) investors concerning the Company’s possible violations of federal securities laws.
On January 30, 2024, Safkhet Capital Research published a report alleging, among other things, that Adtalem’s business model is “fast and loose admissions made possible by aggressive and sometimes deceptive tactics,” specifying that Adtalem students are “funneled into a system” where they may be “[s]trung along for years, with no clear path towards graduation,” used as a “liquidity tap, but discarded before they can be a drag on the quality metrics used to attract prospective students,” or “denied an education sufficient for career success or even eventual full loan repayment.” The report further alleges that Adtalem is “teetering towards a reckoning as its nearsighted business decisions clash with historically high interest rates, looming regulations, and a generation of students now empowered to fight back.”
On this news, Adtalem’s stock price fell $10.95, or 18.6%, to close at $47.68 per share on January 30, 2024, thereby injuring investors.
If you purchased Adtalem securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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