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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Education Management Corp    EDMC

EDUCATION MANAGEMENT CORP

(EDMC)
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Education Management : Investor Alert: Holzer & Holzer Announces Class Action Lawsuit Against Education Management Corp

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09/22/2014 | 05:00pm EST

Holzer & Holzer, LLC announces that a class action lawsuit has been filed in the United States District Court for the Western District of Pennsylvania on behalf of investors who purchased Education Management Corporation (“Education Management” or the “Company”) (NASDAQ: EDMC) securities between August 8, 2012 and September 16, 2014. The complaint alleges, among other things, Education Management and certain of its officers issued false and misleading statements during that time regarding the company’s business, operational and compliance policies. According to the Complaint, Education Management violated federal securities laws by allegedly failing to adequately disclose that: 1) the Company was overstating revenue by not properly increasing its bad debt reserve upon student withdrawal; 2) it was overstating its goodwill; 3) it was manipulating federal student loan and grant programs in order to appear to be in compliance with federal regulations enacted in June 2011; and 4) otherwise engaged in improper recruiting and enrollment practices. On September 16, 2014, the Company announced that it was delaying the release of its Annual Report, which sent its stock price down significantly.

If you purchased EDMC securities between August 8, 2012 and September 16, 2014, or if you have continuously held EDMC securities since at least August 8, 2012, and you are interested in your legal rights, you are encouraged to contact Corey D. Holzer, Esq. via email at cholzer@hozlerlaw.com, or Marshall P. Dees, Esq. via email at mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832. There is a deadline of November 18, 2014 for interested investors to ask the court to be appointed as lead plaintiff for the case.

Holzer & Holzer, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey D. Holzer is the attorney responsible for its content.


© Business Wire 2014
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Managers
NameTitle
Mark Allen McEachen President, Chief Executive Officer & Director
John M. Danielson Chairman
Frank Jalufka Chief Financial Officer & Senior Vice President
Jeffrey T. Leeds Director
Kermit J. Cook Director
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