The law firm of Kirby McInerney LLP is investigating potential claims against Bridgepoint Education, Inc. (“Bridgepoint” or the “Company”) (NYSE: BPI). This investigation concerns whether Bridgepoint has violated federal securities laws and/or engaged in other unlawful business practices.

On March 7, 2019, Bridgepoint announced that it would “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 was “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 $3.21 per share, or 34%, to close at $6.22 on March 7, 2019.

If you acquired Bridgepoint securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kirby McInerney LLPThomas W. Elrod, Esq., (212) 371-6600investigations@kmllp.comwww.kmllp.com

Bridgepoint Education, Inc. (NYSE:BPI)
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