"NEW YORK, Feb. 24, 2015 /PRNewswire/ -- Milberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of purchasers of Bridgepoint Education, Inc., ("Bridgepoint" or the "Company) BPI, +0.98% securities during the period of August 7, 2012 to May 30, 2014, ("the Class Period")."
The complaint alleges that throughout the Class Period, Bridgepoint and certain of its officers violated the federal securities laws by disseminating false and misleading statements to the investing public.
Specifically, the Complaint alleges that defendants made false and/or misleading statements and/or failed to disclose to investors that: (1) the Company had applied an improper revenue recognition methodology to assess collectability of funds owed by students; (2) as a result, the Company's revenues and financial results were overstated; (3) the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP"); (4) the Company lacked adequate internal and financial controls; and (5), as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times....If you would like to learn more about this potential matter, please contact the following attorney:
Andrei Rado, Esq......
Milberg LLP.........
One Pennsylvania Plaza, 49th Fl........
New York, NY 10119-0165.....
Phone number: (800) 320-5081......
Email: contactus@milberg.com...............
http://www.marketwatch.com/story/milberg-llp-announces-filing-of-class-action-lawsuit-against-bridgepoint-education-inc-and-certain-of-its-officers-2015-02-24?siteid=nbsh