{"id":394577,"date":"2020-12-07T11:33:10","date_gmt":"2020-12-07T16:33:10","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=394577"},"modified":"2020-12-07T11:33:10","modified_gmt":"2020-12-07T16:33:10","slug":"the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-k12-inc-lrn-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-k12-inc-lrn-investors\/","title":{"rendered":"The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of K12 Inc. (LRN) Investors"},"content":{"rendered":"

<\/p>\n

The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of K12 Inc. (LRN) Investors<\/b><\/p>\n

Shareholders with $100,000 losses or more are encouraged to contact the firm<\/i><\/b><\/p>\n

LOS ANGELES–(BUSINESS WIRE<\/a>)–The Law Offices of Frank R. Cruz<\/a> announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired K12 Inc. (\u201cK12\u201d or the \u201cCompany\u201d) (NYSE: LRN<\/a>) common shares between April 27, 2020 and September 18, 2020<\/b>, inclusive (the \u201cClass Period\u201d). K12 investors have until January 19, 2021 <\/b>to file a lead plaintiff motion.\n<\/p>\n

\nIf you are a shareholder who suffered a loss, click here<\/a> to participate.\n<\/p>\n

\nOn August 26, 2020, reports surfaced that K12\u2019s 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 \u201cunacceptable.\u201d\n<\/p>\n

\nOn this news, the Company\u2019s stock price fell $5.87, or 13.5%, over the course of two trading days to close at $37.70 on August 27, 2020.\n<\/p>\n

\nOn August 31, 2020, when classes in Miami-Dade started, K12\u2019s platform experienced major technical issues, disruptions, and a series of cyberattacks. During a district Board meeting to discuss the problems with K12\u2019s platform, the district\u2019s superintendent revealed that the district had never executed its $15.3 million contract with K12.\n<\/p>\n

\nOn 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.\n<\/p>\n

\nA week later, facing overwhelming complaints from parents and teachers about K12\u2019s platform and curriculum, the Miami-Dade County Public Schools Board voted to terminate its contract with K12.\n<\/p>\n

\nOn this news, the Company\u2019s stock price fell by $3.21, or 9.5%, to close at $30.55 on September 10, 2020.\n<\/p>\n

\nOn September 17, 2020, due to the lack of confidence in K12\u2019s ability to provide educational solutions for the district, the Beaufort County School Board also voted to terminate its contract with K12.\n<\/p>\n

\nOn this news, the Company\u2019s stock price fell $1.09, or 3.9%, to close at $27.21 on September 18, 2020.\n<\/p>\n

\nThe 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\u2019s 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.\n<\/p>\n

\nFollow us for updates on Twitter: twitter.com\/FRC_LAW<\/a>.\n<\/p>\n

\nIf you purchased K12 securities during the Class Period, you may move the Court no later than January 19, 2021 <\/b>to ask the Court to appoint you as lead plaintiff. To be a member of the Class 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. If you purchased K12 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com<\/a>, or visit our website at www.frankcruzlaw.com<\/a>. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201207005333\/en\/<\/a><\/span><\/p>\n

\nThe Law Offices of Frank R. Cruz, Los Angeles
\n
Frank R. Cruz, 310-914-5007
\n
fcruz@frankcruzlaw.com
\n<\/a>
www.frankcruzlaw.com<\/a><\/p>\n

KEYWORDS:<\/b> California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of K12 Inc. (LRN) Investors Shareholders with $100,000 losses or more are encouraged to contact the firm LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired K12 Inc. (\u201cK12\u201d or the \u201cCompany\u201d) (NYSE: LRN) common shares between April 27, 2020 and September 18, 2020, inclusive (the \u201cClass Period\u201d). K12 investors have until January 19, 2021 to file a lead plaintiff motion. If you are a shareholder who suffered a loss, click here to participate. On August 26, 2020, reports surfaced that K12\u2019s training … <\/p>\n

Continue reading “The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of K12 Inc. (LRN) Investors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-394577","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nThe Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of K12 Inc. 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Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired K12 Inc. (\u201cK12\u201d or the \u201cCompany\u201d) (NYSE: LRN) common shares between April 27, 2020 and September 18, 2020, inclusive (the \u201cClass Period\u201d). K12 investors have until January 19, 2021 to file a lead plaintiff motion. If you are a shareholder who suffered a loss, click here to participate. On August 26, 2020, reports surfaced that K12\u2019s training … Continue reading "The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of K12 Inc. 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