Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against K12 Inc. (LRN)

Shareholders with $100,000 losses or more are encouraged to contact the firm

BENSALEM, Pa., Jan. 14, 2021 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors of the upcoming January 19, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased K12 Inc. (“K12” or the “Company”) (NYSE: LRN) securities between April 27, 2020 and September 18, 2020, inclusive (the “Class Period”).

Investors suffering losses on their K12 investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].

On August 26, 2020, reports surfaced that K12’s training for teachers on its online education platform in Miami-Dade County Public Schools, one of the largest school districts in the country, had been ineffective and “unacceptable.”

On this news, the Company’s stock price fell $5.87, or 13.5%, over the course of two trading days to close at $37.70 on August 27, 2020.

On August 31, 2020, when classes in Miami-Dade started, K12’s platform experienced major technical issues, disruptions, and a series of cyberattacks. During a district Board meeting to discuss the problems with K12’s platform, the district’s superintendent revealed that the district had never executed its $15.3 million contract with K12.

On this news, the price of K12 shares fell by $3.96, or 10.2%, over the course of two trading days, to close at $34.89 on September 3, 2020.

A week later, facing overwhelming complaints from parents and teachers about K12’s platform and curriculum, the Miami-Dade County Public Schools Board voted to terminate its contract with K12.

On this news, the Company’s stock price fell by $3.21, or 9.5%, to close at $30.55 on September 10, 2020.

On September 17, 2020, due to the lack of confidence in K12’s ability to provide educational solutions for the district, the Beaufort County School Board also voted to terminate its contract with K12.

On this news, the Company’s stock price fell $1.09, or 3.9%, to close at $27.21 on September 18, 2020.

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) K12 lacked the technological capabilities, infrastructure, and expertise to support the increased demand for virtual and blended education necessitated by the global pandemic; (2) K12 lacked adequate cyberattack protocols and protections to prevent the disabling of its computer systems; (3) K12 was unable to provide the necessary levels of administrative support and training to teachers, students, and parents; and (4) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired K12 securities during the Class Period, you may move the Court no later than January 19, 2021 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you 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 [email protected], or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com


Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).