Investors with losses of $100,000 or more are encouraged to contact the firm
LOS ANGELES, May 20, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Grand Canyon Education, Inc. (“Grand Canyon” or the “Company”) investors that acquired Grand Canyon securities (NASDAQ: LOPE) between January 5, 2018, and January 27, 2020. Eligible Grand Canyon investors have until July 13, 2020 to request that the Court appoint you as lead plaintiff.
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.
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