The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of California on behalf of investors who purchased Zovio Inc. (NYSE: ZVO) f/k/a Bridgepoint Education Inc. ("Bridgepoint") (formerly NYSE: BPI) securities between March 8, 2016 and March 7, 2019.
According to the complaint, throughout the Class Period, the Company issued materially false and misleading statements and/or failed to disclose that: (i) Bridgepoint’s processes for recording revenue for its FTG program were inaccurate; (ii) Bridgepoint maintained deficient internal controls; (iii) due to the foregoing deficiencies, Bridgepoint was prone to and did commit material accounting errors related to revenue, provision for bad debts, accounts receivable and deferred revenue, which resulted in the overstatement of revenue and expenses; and (iv) as a result, Bridgepoint’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in Zovio Inc. f/k/a Bridgepoint you have until May 10, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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