Key Developments: Bridgepoint Education Inc (BPI.N)
16.61USD
1 Aug 2013
$0.49 (+3.04%)
$16.12
$16.18
$16.75
$16.14
43,713
90,972
$16.75
$8.52
Latest Key Developments (Source: Significant Developments)
Bridgepoint Education Inc Reaffirms FY 2013 Revenue Guidance-Conference Call
Bridgepoint Education Inc announced that for fiscal 2013, it continue to expect low double digit revenue growth. The Company reported revenues of $968.17 million in fiscal 2012. Full Article
Law Firm of Levi & Korsinsky Notifies Investors With Losses On Investment In Bridgepoint Education Inc Class Action Lawsuit And Deadline of September 11, 2012 To Seek Lead Plaintiff Position
The Law Firm of Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the Southern District of California on behalf of investors who purchased Bridgepoint Education, Inc. (Bridgepoint or the Company) stock between May 3, 2011 and July 6, 2012. The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business and prospects. Specifically, defendants concealed accreditation problems with the Company's Ashford campus. On July 5, 2012, Ashford received an official notice denying its accreditation application by the Accrediting Commission for Senior Colleges and Universities of the WASC. On this news, Bridgepoint stock plunged $7.25 per share to close at $14.25 per share on July 9, 2012, a decline of nearly 34%. Full Article
Branham Law, LLP Announces Class Action Lawsuit Has Been Filed against Bridgepoint Education, Inc. For Violations Of Securities Laws
Branham Law, LLP announced an investigation has been launched and a lawsuit filed on behalf of shareholders of Bridgepoint Education, Inc. for alleged violations of securities and shareholder protection laws. Full Article
Lieff Cabraser Reminds Bridgepoint Education Inc Investors Of Upcoming Deadline In Class Action Lawsuit
Lieff, Cabraser, Heimann & Bernstein, LLP announced that it reminds investors of the September 11, 2012 deadline to move for appointment as lead plaintiff in the securities class action against Bridgepoint Education, Inc. ("Bridgepoint" or the "Company"), brought on behalf of all persons who purchased the securities of Bridgepoint between May 3, 2011 and July 12, 2012, inclusive (the "Class Period"). The complaint alleges that, throughout the Class Period, Bridgepoint and certain of its offices and directors made materially false and/or misleading statements and/or failed to disclose that: the Company failed to implement adequate plans, procedures and practices to assist students in completing their academic programs; the Company failed to align resources with educational requirements; the Company`s Ashford University failed to maintain an adequate number of faculty and programs; the Company had inadequate review procedures such that shortfalls in completion rates were not timely identified and remedied; and Ashford University failed to maintain an empowered and independent governing board. On July 9, 2012, the Company disclosed that Ashford University had been denied initial accreditation by the Western Association of Schools and Colleges ("WASC"). . Full Article
Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Bridgepoint Education Inc
The Law Offices of Todd M. Garber announced that a class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of a class (the Class) comprising all purchasers of the securities of Bridgepoint Education Inc between May 3, 2011 and July 12, 2012, inclusive (the Class Period). The Complaint alleges that throughout the Class Period the defendants misrepresented and/or failed to disclose that: (1) the Company failed to implement adequate plans, procedures and practices to assist students in completing the academic programs in which they had enrolled; (2) the Company failed to align resources with educational requirements, hampering its students` ability to progress to acceptable levels; (3) the Company`s Ashford University failed to maintain an adequate number of faculty and programs, resulting in poor instruction and low completion rates by students; (4) the Company had inadequate review procedures such that shortfalls in completion rates were not timely identified and remedied; (5) Ashford University failed to maintain an empowered and independent governing board; and (6) as a result of the above, the Company`s financial statements were materially false and misleading at all relevant times Full Article
Bridgepoint Education Inc Suspends FY 2012 Guidance-Conference Call
Bridgepoint Education Inc announced that Ashford University's investment in student initiatives, together with the potential effect of recent regulatory actions on new students and student retention, reduces the Company's financial and operating visibility. As a result, the Company has elected to suspend fiscal 2012 financial guidance that it customarily provide on these quarterly calls. Full Article
Lieff Cabraser Announces Class Action Lawsuit Against Bridgepoint Education Inc
Bridgepoint Education Inc announced that the law firm of Lieff, Cabraser, Heimann & Bernstein, LLP has filed a class action lawsuit has been brought on behalf of all persons who purchased the securities of the Company between May 3, 2011 and July 12, 2012, inclusive. Full Article
Wohl & Fruchter Files Securities Class Action Against Bridgepoint Education Inc
Bridgepoint Education Inc announced that the law firm of Wohl & Fruchter LLP has filed a class action on behalf of investors against the Company and certain of its officers. The class action is based on false statements and omissions concerning the accreditation status of Bridgepoint’s academic programs and seeks damages for investors who purchased Bridgepoint shares between May 3, 2011 and July 12, 2012. Full Article
Law Offices of Todd M. Garber Announces Investigation Of Bridgepoint Education Inc
The Law Offices of Todd M. Garber announced that it is investigating potential claims against Bridgepoint Education, Inc.,concerning possible violations of federal securities laws. The investigation is related to allegations that certain statements issued by the Company between May 3, 2011, and July 12, 2012, were false and/or misleading or failed to disclose material adverse facts about the Company’s business and financial performance. Specifically, the investigation concerns allegations that the Company misrepresented and/or failed to disclose that the Company failed to implement adequate plans, procedures and practices to assist students in completing the academic programs in which they had enrolled; the Company failed to align resources with educational requirements, hampering its students’ ability to progress to acceptable levels; the Company’s Ashford University failed to maintain an adequate number of faculty and programs, resulting in poor instruction and low completion rates by students; the Company had inadequate review procedures such that shortfalls in completion rates were not timely identified and remedied; Ashford University failed to maintain an empowered and independent governing board; and as a result of the above, the Company’s financial statements were materially false and misleading at all relevant times. Full Article
Harwood Feffer LLP Announces Investigation Of Bridgepoint Education, Inc.
Harwood Feffer LLP announced that it is investigating potential claims against the board of directors of Bridgepoint Education, Inc. concerning whether the board has breached its fiduciary duties to shareholders. Bridgepoint operates Ashford University (Ashford), the University of the Rockies, and online institutions. During May and June 2011, the eligibility review committee of the Western Association of Schools and Colleges (WASC) notified Ashford that its accreditation was at risk due to: inadequate student retention and completion, insufficient student progress tracking, an insufficient core of full-time faculty members, and lack of an empowered and independent governing board. On June 25, 2012, the Higher Learning Commission (HLC) notified Ashford that it has until December 1, 2012 to demonstrate that it has a substantial presence in the 19-state north central region of the United States. On July 9, 2012, Bridgepoint filed a Form 8-K with the SEC disclosing that on July 5, 2012, Ashford had received an official notice denying its accreditation application by the Accrediting Commission for Senior Colleges and Universities of the WASC. Subsequently on July 9, 2012, Bridgepoint issued a press release announcing that Ashford would appeal the decision and re-apply for WASC accreditation. On this news, shares of Bridgepoint common stock dropped nearly 34%, closing at $14.25 per share on July 9, 2012 from $21.50 the previous day, on volume of 1.2 million shares. Full Article

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