Bridgepoint Education Inc. (NYSE: BPI)
Hagens Berman Sobol Shapiro LLP alerts investors in Bridgepoint Education Inc. (NYSE: BPI) to the firm's investigation into admitted improper accounting and possible securities law violations.
If you purchased or otherwise acquired securities of BPI securities before March 7, 2019 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more infomation contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing BPI@hbsslaw.com.
On March 7, 2019, Bridgepoint and senior management announced investors should no longer rely on the Company’s consolidated financial statements for the three and nine months ended September 30, 2018.
More specifically, they disclosed “the Company identified errors, relating to revenue, provision for bad debts, accounts receivable and deferred revenue, which resulted in the overstatement of revenue and expenses” for the periods.
This news drove the price of Bridgepoint Education shares sharply lower during intraday trading on March 7, 2019.
“We’re focused on investors’ losses, admitted improper accounting, whether the so-called “errors” were in fact “irregularities,” and the extent to which the Company and senior management may have misled investors,” said Hagens Berman partner Reed Kathrein.
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