Grand Canyon Education, Inc.
(NASDAQ GS: LOPE)
Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Grand Canyon Education, Inc. (“Grand Canyon”) on behalf of stockholders. A class action complaint has been filed against Grand Canyon. The complaint alleges that defendants 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, shares of Grand Canyon’s common stock traded at artificially inflated prices.