{"id":403882,"date":"2020-12-21T12:03:12","date_gmt":"2020-12-21T17:03:12","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=403882"},"modified":"2020-12-21T12:03:12","modified_gmt":"2020-12-21T17:03:12","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-k12-inc-lrn-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-k12-inc-lrn-2\/","title":{"rendered":"Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against K12 Inc. (LRN)"},"content":{"rendered":"
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Shareholders with $100,000 losses or more are encouraged to contact the firm<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n LOS ANGELES<\/span>, Dec. 21, 2020<\/span> \/PRNewswire\/ — Glancy Prongay<\/span> & Murray LLP<\/a> (“GPM”) reminds investors of the upcoming\u00a0January 19, 2021<\/span><\/b>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired K12 Inc. (“K12” or the “Company”) (NYSE: LRN<\/a><\/u>) common shares between April 27, 2020<\/span> and September 18, 2020<\/span>,<\/b> inclusive (the “Class Period”).<\/p>\n

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\n \"(PRNewsfoto\/Glancy
\n <\/a>\n <\/p>\n<\/p><\/div>\n

If you suffered a loss on your K12 investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/k12-inc\/<\/a>.<\/u> You can also contact Charles H. Linehan<\/span>, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com<\/a> to learn more about your rights.<\/p>\n

On August 26, 2020<\/span>, 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.” <\/p>\n

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

On August 31, 2020<\/span>, 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<\/span> contract with K12. <\/p>\n

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

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. <\/p>\n

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

On September 17, 2020<\/span>, 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. <\/p>\n

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

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.<\/p>\n

Follow us for updates on LinkedIn<\/a>, Twitter<\/a>, or Facebook<\/a>.<\/p>\n

If you purchased or otherwise acquired K12 common shares\u00a0during the Class Period, you may move the Court no later than\u00a0January 19, 2021<\/span><\/b>to request appointment as lead plaintiff in this putative class action lawsuit. 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\u00a0learn more\u00a0about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire<\/span>, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California<\/span> 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com<\/a>, or visit our website at www.glancylaw.com<\/a>.\u00a0 If you inquire by email please include your mailing address, telephone number and number of shares purchased. <\/p>\n

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

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\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/glancy-prongay–murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-k12-inc-lrn-301196663.html<\/a><\/p>\n

SOURCE Glancy Prongay<\/span> & Murray LLP<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Shareholders with $100,000 losses or more are encouraged to contact the firm PR Newswire LOS ANGELES, Dec. 21, 2020 \/PRNewswire\/ — Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming\u00a0January 19, 2021deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired K12 Inc. (“K12” or the “Company”) (NYSE: LRN) common shares between April 27, 2020 and September 18, 2020, inclusive (the “Class Period”). If you suffered a loss on your K12 investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/k12-inc\/. You can also contact Charles H. Linehan, of GPM … <\/p>\n

Continue reading “Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against K12 Inc. (LRN)”<\/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-403882","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGlancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against K12 Inc. 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