GlobeNewswire Inc | Nov 27, 2020 08:00AM EST

November 27, 2020

LEAD PLAINTIFF DEADLINE IS JANUARY 19, 2021

NEW YORK, Nov. 27, 2020 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed against K12, Inc. (K12 or the Company) (NYSE: LRN) in the United States District Court for the Eastern District of Virginia on behalf of those who purchased or acquired the securities of K12 between April 27, 2020 to September 18, 2020, inclusive (the Class Period).

Allinvestors whopurchasedshares ofK12, Inc.,and incurred losses areurgedto contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the caseon our website, www.whafh.com.

If you have incurred losses in the shares of against K12, Inc.,youmay,nolater thanJanuary 19, 2021, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of K12, Inc.

CLICK HERE TO JOIN CASE

On August 26, 2020, reports emerged that K12s training for teachers in Miami-Dade County Public Schools (Florida), one of the largest school districts in the country, had been ineffective and unacceptable. On this news, K12s shares fell by 7% over the course of two trading days, to close at $37.70 on August 27, 2020.

When classes in Miami-Dade commenced on August 31, 2020, K12s platform experienced major technical issues, disruptions, and a series of cyber attacks. In response, the districts superintendent revealed that the district had never executed its $15.3 million contract with K12. On this news, the price of K12 shares fell by 10.5% over the course of two trading days, to close at $34.89 on September 3, 2020.

A week later, facing overwhelming complaints from parents and teachers about K12s platform and curriculum, the Miami-Dade County Public Schools Board voted to terminate their contract with K12. On this news, the price of K12 common shares once again fell drastically, by 11.5%, to close at $30.55 on September 10, 2020.

Other school districts also discovered K12s inability to deliver on its promises. On September 17, 2020, following a loss of confidence in K12s ability to provide educational solutions for the district, the Beaufort County School Board (South Carolina) also voted to terminate its contract with K12. On this news, the price of K12s shares fell 4.9%, to close at $27.21 on September 18, 2020.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq.Gregory Stone, Director of Case and Financial AnalysisEmail: gstone@whafh.com, kcooper@whafh.comor classmember@whafh.comTel: (800) 575-0735 or (212) 545-4774

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