SOURCE: Wolf Haldenstein Adler Freeman & Herz LLP

October 03, 2014 23:06 ET

Wolf Haldenstein Adler Freeman & Herz LLP Announces That a Securities Class Action Has Been Filed Against Education Management Corporation in the United States District Court for the Western District of Pennsylvania

NEW YORK, NY--(Marketwired - Oct 3, 2014) - Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been commenced in the United States District Court for the Western District of Pennsylvania on behalf of purchasers of Education Management Corporation ("EDMC" or the "Company") (NASDAQ: EDMC) securities between August 8, 2012 and September 16, 2014, inclusive (the "Class Period").

The complaint notes defendants failed to disclose that during the Class Period, EDMC was overstating revenue by not properly increasing its bad debt reserve upon student withdrawals, that EDMC was overstating goodwill, that EDMC manipulated federal student loan and grant programs in order to appear to be in compliance with new federal regulations enacted in June 2011, and that EDMC's predatory and deceptive recruitment and enrollment practices violated federal regulations.

If you purchased Education Management Corporation common stock during the Class Period, you may move to be appointed as lead plaintiff by November 18, 2014. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has over 70 attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the "Education Management investigation."

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