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SAN FRANCISCO, April 02, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP alerts investors in Bridgepoint Education Inc. (NYSE: BPI) of the May 10, 2019 Lead Plaintiff deadline in the pending securities class action. If you purchased or otherwise acquired Bridgepoint Education securities between March 8, 2016 and March 7, 2019 (the “class period”) and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information about the case or to inquire about serving as Lead Plaintiff click
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
According to the complaint, during the class period Defendants misled investors concerning Bridgepoint’s revenue and expense recognition practices.
On March 7, 2019, Defendants announced investors should no longer rely on the Company’s consolidated financial statements for the three and nine months ended September 30, 2018 and disclosed “the Company identified errors, relating to revenue, provision for bad debts, accounts receivable and deferred revenue, which resulted in the overstatement of revenue and expenses.”
This news drove the price of Bridgepoint Education shares down $3.21, or down over 34%, to close at $6.22 that day.
On March 12, 2019, Defendants filed Bridgepoint’s amended financial statements for the periods containing restatements of balance sheet and income statement data.
“We’re focused on investors’ losses, admitted improper accounting, whether the so-called “errors” were in fact “irregularities,” and the extent to which Defendants may have misled investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Bridgepoint Education should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email BPI@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 78 attorneys in 9 offices across the country. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000