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.
Grand Canyon Education, Inc.
Investors that purchased the Company’s securities between January 5, 2018, and January 27, 2020, are encouraged to contact the firm prior to July 13, 2020 deadline. Please fill in transaction information below or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
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The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
8240 Beverly Blvd., Suite 9
Los Angeles, CA 90048
info@portnoylaw.com
