Grand Canyon Education Investors: Last Days to Seek Participation in Class Action as Lead Plaintiff

LOS ANGELES, July 10, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Grand Canyon Education, Inc. investors (NASDAQ: LOPE) (“Grand Canyon” or the “Company”) that acquired Grand Canyon securities between January 5, 2018 and January 27, 2020. 

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com.

The complaint alleges that the Company inflated Grand Canyon's financial results by using a non-profit independent entity, Grand Canyon University (“GCU”) as an off-balance-sheet entity to which Grand Canyon was able to funnel expenses and costs in exchange for a disproportionate amount of revenue. Defendants repeatedly made false and misleading statements to investors describing GCU as a "non-profit" and "independent" institution and misstating Grand Canyon's role as a third-party provider of education services. As a result of Defendants' misrepresentations, shares of Grand Canyon's common stock traded at artificially inflated prices during the Class Period. Investors slowly began learning the truth of the relationship between the Company and GCU, culminating with Citron Research publishing a report on January 28, 2020 outlining the intricate and allegedly unlawful relationship between the Company and GCU. Following the publication of the Citron Research report the Company’s shares fell sharply in value.

Founding partner, Lesley Portnoy, informs interested investors, “Grand Canyon investors can seek an active role in the pending litigation by petitioning the court for appointment as a lead plaintiff. Lead plaintiffs are appointed by the court to act as a fiduciary on behalf of other injured investors. Also, notably for investors concerned about time and expense of the litigation, the lead plaintiffs do not bear any direct cost or expense of the case, and on the upside are eligible to receive a monetary award for participating in the case.”

Please visit our website to review more information and submit your transaction information. If you suffered a loss you have until July 13, 2020 to request that the Court appoint you as lead plaintiff.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
[email protected]
310-692-8883
www.portnoylaw.com