|Company Name||K12 Inc.|
|Class Period||April 27, 2020 to September 18, 2020|
|Motion Deadline||January 19, 2021|
The Thornton Law Firm announces that a class action lawsuit has been filed on behalf of investors of K12 Inc. (NYSE: LRN). Investors who purchased LRN stock or other securities between April 27, 2020 and September 18, 2020 may contact the Thornton Law Firm to obtain a copy of the complaint or to discuss the lead plaintiff process. Interested investors are encouraged to submit their information above. Investors may email email@example.com or call 617-531-3917. Interested K12 investors have until January 19, 2021 to apply to be a lead plaintiff.
The case alleges that K12 and its senior executives made misleading statements to investors and failed to disclose that: (i) K12 lacked the technological capabilities, infrastructure, and expertise to support the increased demand for virtual and blended education necessitated by the global pandemic; (ii) K12 lacked adequate cyber-attack protocols and protections to prevent the disabling of its computer system; and (iii) K12 was unable provide the necessary levels of administrative support and training to teachers, students, and parents. It is alleged that after the public was made aware of the truth through a series of disclosures, K12’s common share price fell, thereby damaging investors.
The lawsuit alleges violations of the federal securities laws. The Private Securities Litigation Reform Act of 1995 allows any investor who purchased the securities at issue in the case during the Class Period to seek appointment as a lead plaintiff in the lawsuit. A lead plaintiff acts on behalf of all other investor class members in managing the class action and can select a law firm of their choice to litigate the lawsuit. Serving as a lead plaintiff does not impact an investor’s share in any potential recovery. Investors do not need to be a lead plaintiff to be a member of the class. If investors choose to take no action, they can remain an absent class member. Interested K12 investors have until January 19, 2021 to apply to be a lead plaintiff. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.
Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.