Faruqi & Faruqi, LLP Seeks to Recover Damages on behalf of K12, Inc. and its Shareholders
Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and enforcement of federal antitrust laws, is investigating potential wrongdoing at K12, Inc. (“K12” or the “Company”) (NYSE: LRN). The investigation focuses on whether certain officers and directors of K12 violated their fiduciary duties to the Company and damaged K12 by, among other things, engaging in deceptive recruiting and sales strategies and misrepresenting the Company’s empirical academic performance, financial performance and business and financial prospects.
K12 provides online learning for grades K through 12. On December 12, 2011, the New York Times published an article discussing K12’s high pressure sales strategies to enroll students, administrative pressure to pass enrolled students regardless of academic performance in order to artificially inflate enrollment, and the overall failure of K12 students to maintain grade-level performance in math and reading. The Florida Department of Education is also now investigating K12 over allegations that the Company uses uncertified teachers and has asked employees to help cover up the practice. It is also alleged that K12 officials asked state-certified teachers to sign class rosters that included students they had not taught, according to documents that are part of the investigation. Shareholders interested in seeking to recover damages on behalf of K12 and to implement corporate governance measures designed to prevent future misconduct should contact the firm.
If you are a current LRN shareholder, and you would like to discuss your legal rights, contact us by calling Beth A. Keller toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.