Levi & Korsinsky, LLP announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of California on behalf of purchasers of Bridgepoint American Depositary Shares between August 7, 2012 and May 30, 2014.
The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose that: (a) the Company had applied an improper revenue recognition methodology to assess collectability of funds owed by students; (b) as a result, the Company’s revenues and financial results were overstated; (c) the Company’s financial statements were not prepared in accordance with Generally Accepted Accounting Principles (GAAP); and (d) the Company lacked adequate internal and financial controls. If you suffered a loss in Bridgepoint you have until April 27, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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