Levi & Korsinsky, LLP announces that a LOPE class action lawsuit has been filed on behalf of investors who purchased Grand Canyon Education, Inc. (LOPE) securities between January 5, 2018 and January 27, 2020. For more on the LOPE Lawsuit please contact us today.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: 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.
If you suffered a loss in you have until July 13, 2020 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.