NEW YORK, March 08, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against Bridgepoint Education, Inc. (NYSE: BPI). Our investigation concerns whether Bridgepoint has violated the federal securities laws and/or engaged in other unlawful business practices.
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On March 7, 2019, Bridgepoint announced that it had “determined to restate the company’s previously issued unaudited condensed consolidated financial statements, and advised that those financial statements should not be relied upon, for the three and nine months ended September 30, 2018.” Bridgepoint stated that the process used for recording revenue for the Full Tuition Grant program portion of its student contracts “were not designed with sufficient precision,” leading to “material” accounting errors related to revenue, provision for bad debts, accounts receivable and deferred revenue, which resulted in the overstatement of revenue and expenses. Bridgepoint also identified weaknesses in internal controls.
On this news, Bridgepoint’s share price fell by more than 34%, closing at $6.22 on March 7, 2019.
If you purchased or otherwise acquired Bridgepoint shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Bridgepoint please go to https://bespc.com/bpi/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com