New York, New York--(Newsfile Corp. - May 29, 2020) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Grand Canyon Education, Inc. (NASDAQ: LOPE) alleging that the Company violated federal securities laws.
Class Period: January 5, 2018 and January 27, 2020
Lead Plaintiff Deadline: July 13, 2020
Learn more about your recoverable losses in DNK:
According to a filed complaint, statements made by Defendants were false and/or misleading because, following Grand Canyon's spin-off of its educational assets as Grand Canyon University ("GCU"): (i) GCU would not be a proper non-profit organization as it would remain under the control of Grand Canyon, and (ii) Grand Canyon would not be a third-party service provider to GCU but rather would continue to effectively operate the entity, and (iii) Grand Canyon employees served as executives of GCU and (iv) GCU functioned as an off-balance-sheet entity to which Grand Canyon would be able to funnel expenses and costs in exchange for a disproportionate amount of revenue, thereby inflating Grand Canyon's financial results.
Shareholders have until July 13, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the LOPE lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/56903