Company name Grand Canyon Education, Inc.
Stock symbol LOPE
Status Class Action Complaint Filed

NEW YORK, May 20, 2020 –Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the District of Delaware on behalf of investors that purchased Grand Canyon Education, Inc (NASDAQ: LOPE) common stock between January 1, 2018 and January 27, 2020 (the “Class Period”). Investors have until July 13, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

The complaint, filed on May 12, 2020, 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, Grand Canyon shares declined approximately 8% to close at $84.07 per share on January 28, 2020.

If you purchased Grand Canyon Education common stock during the class period, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.

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The submission of this form does not create an attorney-client relationship, nor any obligation on the part of Bragar Eagel & Squire, P.C., or you to file a legal action. Any information you submit will be maintained as confidential. If Bragar Eagel & Squire, P.C., in its sole discretion, believes that you might be an appropriate class representative, Bragar Eagel & Squire, P.C., will contact you to discuss the matter and to determine whether to establish an attorney client relationship.

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