SOURCE: Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP

March 02, 2015 15:50 ET

INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses in Excess of $100,000 Investing in Bridgepoint Education, Inc. (BPI) to Contact the Firm

NEW YORK, NY--(Marketwired - March 02, 2015) -  Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Bridgepoint Education, Inc. ("Bridgepoint" or the "Company") (NYSE: BPI) of the April 27, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Bridgepoint and certain executives.

A complaint has been filed in the Southern District of California on behalf of all persons who purchased Bridgepoint securities from August 7, 2012 through May 30, 2014, inclusive (the "Class Period").

The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.

Specifically, the action alleges that throughout the Class Period, Bridgepoint failed to disclose that: (i) the Company employed an improper revenue recognition methodology in order to determine the collectability of student owed funds; (ii) Bridgepoint's revenues and financial results were overstated; (iii) the financial statements of the Company were not prepared in accordance with Generally Accepted Accounting Principles; and (iv) Bridgepoint did not employ adequate internal and financial controls.

On May 12, 2014, the Company announced that on May 2, 2014, the Securities and Exchange Commission informed Bridgepoint that a reassessment was required under accounting principles generally accepted in the United States.

Following this news, the Company's stock declined $1.41 per share, or nearly 9%, to close at $14.51 per share on May 12, 2014.

On May 30, 2014, the Company announced that the financial statements filed for the years ended December 31, 2011 and December 31, 2012, as well as financial statements filed for the quarters ended March 31, 2012, June 30, 2012 and September 30, 2012 should not be relied upon.

Request more information now by clicking here: www.faruqilaw.com/Bridgepoint. There is no cost or obligation to you.

Take Action

If you invested in Bridgepoint stock or options between August 7, 2012 through May 30, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/Bridgepoint. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Bridgepoint's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

Contact Information

  • FARUQI & FARUQI, LLP
    369 Lexington Avenue, 10th Floor
    New York, NY 10017
    Attn: Richard Gonnello, Esq.
    rgonnello@faruqilaw.com
    Telephone: (877) 247-4292 or (212) 983-9330