Class-action lawsuit filed against K12

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  • Class-action lawsuit filed against K12
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OKLAHOMA CITY – The Philadelphia-based Kehoe Law Firm, P.C., is investigating potential securities claims on behalf of investors of K12 Inc. to determine whether the company engaged in securities fraud or other unlawful business practices, Kehoe said in a news release.

Investors who purchased or otherwise acquired K12 securities between April 27 and

Sept. 18 and suffered losses greater than $100,000 are encouraged to either complete Kehoe’s securities class action questionnaire or contact Michael Yarnoff, Esq., at 215-792-6676, ext. 804, myarnoff@kehoelawfirm.com or securities@kehoelawfirm. com to discuss the securities investigation or potential legal claims.

A class-action lawsuit has been filed seeking to recover damages on behalf of K12 investors who purchased, or otherwise acquired, the securities of K12 during the class period and suffered losses, according to the news release.

According to the complaint, K12 allegedly made false and misleading statements to the public throughout the class period and failed to disclose that (1) K12 lacked the technological capabilities, infrastructure and expertise to support the increased demand for virtual and blended education necessitated by the global pandemic; (2) K12 lacked adequate cyberattack protocols and protections to prevent disabling its computer systems; (3) K12 was unable to provide the necessary levels of administrative support and training to teachers, students and parents; (4) and K12’s officers lacked a reasonable basis for their positive statements about the company’s business, operations and prospects.