Technically, BPI has been showing support around 17.53 and resistance in the 20.50 price range. It is rated buy with the 23.94 target price in six months.
It will undoubtedly tumble back down. Especially after the class action lawsuits go to court and result in every dime BPI has taken in being awarded back to the Plaintiffs of the class (students). They will be forced to cease operations since they are not providing a viable education and also be bankrupt. Thats if all the other investigations don't shut them down first.
It is funny how a student picked this as his number one stock but none of the Executives there choose to invest in the stock of their own company. Doesn't anyone else think that is strange. First thing I look at is insider ownership, BPI's is practically ZERO....
So far Harkins in senate hearings and the state attorney generals have discovered nothing illegal. Like in many large companies somefor profits may be unethical in some areas .If they want to prosecute for that they should start with used car dealers and other sales people..
Item 8.01. Other Information.
On May 18, 2011, we received from the Attorney General of the State of New York (“Attorney General”) a Subpoena Duces Tecum (“Subpoena”) relating to the Attorney General’s investigation of whether we and our academic institutions have complied with certain New York state consumer protection, securities and finance laws. Pursuant to the Subpoena, the Attorney General has requested from us and our academic institutions documents and detailed information for the time period March 17, 2005, to present. We are evaluating the Subpoena and intend to comply with the Attorney General’s request.
The Department of Education's Office of the Inspector General has been over the books with a fine-toothed comb and could not find any charges to file. The Attorney General of the State of New York is unlikely to find any problems that the OIG overlooked. This is just more ideology-driven harassment. Very few non-profit schools could withstand the kind of scrutiny currently being given to the for-profits.