The Law Offices of Timothy L. Miles Announces Investigation on Behalf of Bridgepoint Education, Inc. Investors
The Law Offices of Timothy L. Miles announces an investigation on behalf of Bridgepoint Education, Inc. ("Bridgepoint" or the "Company") (NYSE: BPI) investors concerning the Company and its officers' possible violations of federal securities laws.
HENDERSONVILLE, Tenn., March 22, 2019 /PRNewswire-PRWeb/ -- THIS IS AN ADVERTISEMENT.
The Law Offices of Timothy L. Miles announces an investigation on behalf of Bridgepoint Education, Inc. ("Bridgepoint" or the "Company") (NYSE: BPI) investors concerning the Company and its officers' possible violations of federal securities laws.
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to [email protected], or visit the firm's website at http://www.timmileslaw.com.
in March 7, 2019, Bridgepoint announced that it had "determined to restate the Company's previously issued unaudited condensed consolidated financial statements and advised that those financial statements should not be relied upon, for the three and nine months ended September 30, 2018." Bridgepoint stated that the process used for recording revenue for the Full Tuition Grant program portion of its student contracts "were not designed with sufficient precision," leading to "material" accounting errors related to revenue, provision for bad debts, accounts receivable and deferred revenue, which resulted in the overstatement of revenue and expenses. Bridgepoint also identified weaknesses in internal controls.
On this news, shares of Bridgepoint fell $3.21, or 34%, to close at $6.22 on March 7, 2019, thereby injuring investors.
If you purchased Bridgepoint securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to [email protected]. f you inquire by email please include your mailing address, telephone number, and the number of shares purchased.
THIS IS AN ADVERTISEMENT.
SOURCE The Law offices of Timothy L. Miles
