CURRENT SHAREHOLDERS: Zamansky LLC Investigates Bridgepoint Education, Inc. (BPI) for Potential Breaches of Fiduciary Duties
March 12 2019 - 02:25PM
Business Wire
Zamansky LLC announces that it is investigating Bridgepoint
Education, Inc. (NYSE: BPI) (“Bridgepoint” or the “Company”) for
potential breaches of fiduciary duties. Specifically, the
investigation concerns the Company’s accounting practices and its
purported failure to properly record revenue, including alleged
material accounting errors related to bad debts, accounts
receivable and deferred revenue. If you are a Bridgepoint
shareholder and still hold your BPI shares, please contact our firm
for further information.
Pursuant to a recent SEC filing, Bridgepoint disclosed that its
Audit Committee had “concluded that the Company’s previously issued
unaudited condensed financial statements for the three and nine
months ended September 30, 2018” contained errors related to the
process for “recording the revenue for [its] Full Tuition Grant
program….” Accordingly, Bridgepoint now plans to restate its
unaudited condensed consolidated financial statements for the three
and nine months ended September 30, 2018. Following release of this
news, Bridgepoint shares have declined approximately 25% in
value.
According to Jake Zamansky, an investment fraud attorney,
Bridgepoint’s officers and directors owe the Company and its
shareholders fiduciary duties. “Upon initial review of Bridgepoint
and its accounting practices and internal compliance policies,
shareholders may well have suffered damages as a result of the
Company’s previous misstatements and errors,” Zamansky says. “As we
continue our investigation into this matter, our law firm will
review whether certain of Bridgepoint’s officers and directors may
have breached their duties to the Company.”
What Bridgepoint Shareholders Can Do
If you are a current shareholder of Bridgepoint, please contact
us to review or discuss your legal rights. You may, without
obligation or cost to you, email jake@zamansky.com or call the law
firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is a leading investment fraud law firm with
experience handling securities, hedge fund, ERISA and other
shareholder class action and derivative litigation. We are
investment fraud attorneys who represent both individual and
institutional investors. Our practice is nationally recognized for
our ability to aggressively prosecute cases and recover investment
losses.
To learn more about Zamansky LLC, please visit our website,
http://www.zamansky.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190312005826/en/
Zamansky LLCJake Zamansky, 212-742-1414jake@zamansky.com
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