American Public Education, Inc. Investor Files Lawsuit

If you purchased common stock of American Public Education, Inc. (NASDAQ:APEI) between February 22, 2010 and August 5, 2010, you have certain options and there are strict and short deadlines running. Deadline October 11, 2010. Those APEI stockholders and current long term APEI investors, including those who purchased prior to February 2010 and continue to hold those APEI shares, should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
American Public Education
Case Name: 
American Public Education Shareholder Class Action 08/13/2010
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: APEI
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
08/13/2010
Class Period Begin: 
02/22/2010
Class Period End: 
08/05/2010
Court of Filing: 
U.S. Disrtict Court for the Northen District of West Virginia
Deadline To File for Lead: 
10/11/2010
Summary: 

An investor in American Public Education, Inc. (NASDAQ:APEI) stocks filed a lawsuit in the United States District Court for the Northern District of West Virginia, against American Public Education, Inc. over alleged violations of Federal Securities Laws violations.

American Public Education, Inc., Charles Town, WV, is a provider of online postsecondary education focusing on the needs of the military and public service communities. According to the complaint the plaintiff alleges on behalf of purchasers of the common stock of American Public Education, Inc. (NASDAQ:APEI) between February 22, 2010 and August 5, 2010, that American Public Education and certain of its Officers violated the Securities Exchange Act of 1934 by issuing between February 22, 2010 and August 5, 2010, a series of materially false and misleading statements related its business and operations. American Public Education’s revenue increased over the past four years from $40.05million in 2006, to $69.09million in 2007, to $107.15million in2008, and $149million in 2009. Over the same time period its Net Income rose from $1.80 million in 2006 to $23.94million in 2009.

On August 5, 2010, American Public Education, Inc announced its second-quarter 2010 financial results and revised downward its third-quarter revenue guidance, stating it expects to tighten its recruitment standards for new students. The announcement followed the release of a report by the U.S. Government Accountability Office that found some for-profit colleges encouraged fraud and engaged in deceptive and otherwise questionable marketing and sales practices directed toward prospective students.

After the announcement shares of American Public Education, Inc. (Public, NASDAQ:APEI) declined decreased drastically by more than 30% from $44.79 per share on August 05 to $29.34 per share on August 06 and continued to declined to as low as $25.63 per share on August 12, 2010. APEI shares are down from its52weekHigh of $48.95per share, $45.19 per share during 2009, and $49.38 per share in 2008.