NEW YORK, October 21, 2020 — Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating claims of violations of federal securities laws on behalf of investors of K12 Inc. (“K12” or the “Company”) (NYSE: LRN).
K12 is a technology-based education company that provides proprietary and third-party educational curriculum, software systems and educational services. During the months leading to the opening of the school year, K12 disseminated number of statements in their regulatory filings, in which it touted the Company’s preparedness to service and support online education on a large scale.
On September 9, 2020, one of the nation’s largest school districts has abruptly terminated its $15 million contract with K12, after experiencing technical difficulties, including a cybersecurity breach, which prevented faculty and students to effectively use the K12 platform.
On this news, the price of K12 shares fell $3.9, more than 11%, to close at $30.55, on September 10, 2020.
If you are a shareholder of K12 and wish to participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7201 or via email at email@example.com.
Whistleblowers: Persons with non-public information regarding K12 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.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
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