NEW ORLEANS, Jan. 31, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 1, 2014 to file lead plaintiff applications in a securities class action lawsuit against K12, Inc. (NYSE:LRN), if they purchased the Company's securities during the period between March 11, 2013 and October 9, 2013, inclusive (the "Class Period"). This action is pending in the United States District Court for the Eastern District of Virginia.
What You May Do
If you purchased shares of K12 and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 1, 2014.
About the Lawsuit
K12 and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
On October 8, 2013, K12 disclosed that its fiscal first-quarter and full-year revenue would fall short of market expectations, stating that first-quarter enrollment was weaker than it anticipated, increasing only 5.7%, which fell short of the company's own projections. K12 admitted that enrollment suffered due to performance issues at its enrollment centers and delays in open enrollment periods for some schools. K12 also said that it anticipated revenue of $905 million to $925 million for its full fiscal year, much lower than the $936.2 in revenues analysts were expecting.
On this news, the price of K12 shares plummeted.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.