NEW YORK--(BUSINESS WIRE)--May 14, 2020--
Zamansky LLC announces that it is investigating Grand Canyon Education, Inc. (LOPE) (“Grand Canyon” or the “Company”) for potential breaches of fiduciary duties by Grand Canyon’s senior officers and board of directors. If you are a shareholder of Grand Canyon who still holds your shares, please contact our firm for information.
A series of recent revelations have come to light regarding Grand Canyon’s spin-off of its education assets to become purported non-profit, independent entity Grand Canyon University (“GCU”). A September 2019 investigation by Citron Research into Grand Canyon’s financials has allegedly found that the Company “is stuffing GCU with expenses to inflate its own profitability and as a result bankrupting GCU.” In November 2019, Grand Canyon announced that the U.S. Department of Education (“DOE”) had denied its application for designation of GCU as a non-profit, based on the DOE’s finding that GCU was Grand Canyon’s “captive client.” In January 2020, Citron Research published a second report expanding on the DOE’s findings, citing supporting documentation from Grand Canyon that it had obtained through the Freedom of Information Act, and describing Grand Canyon as the “educational Enron.”
According to Jake Zamansky, investment fraud attorney, Grand Canyon’s officers and directors owe the Company and its shareholders fiduciary duties. “The recent announcements regarding these very serious allegations raise potential concern for investors,” Zamansky says. “Our law firm is investigating whether the officers and directors have breached their duties to Grand Canyon and its shareholders.”
What Grand Canyon Shareholders Can Do
If you are a current shareholder of Grand Canyon who still holds your stock, please contact us to review or discuss your legal rights. You may, without obligation or cost to you, email firstname.lastname@example.org or call the law firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is a leading investment fraud law firm with experience handling securities, hedge fund, ERISA and other shareholder class action and derivative litigation. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.
To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.
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CONTACT: Zamansky LLC
50 Broadway - 32nd Floor
New York, NY 10004
Jake Zamansky, 212-742-1414
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: Zamansky LLC
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PUB: 05/14/2020 05:28 PM/DISC: 05/14/2020 05:28 PM