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K12 Inc. Settles Suit Filed by Investors

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K12 Inc., a prominent provider of online education, has reached a tentative settlement in a class action brought by investors who said they were misled about its business and academic performance.

The company has agreed to pay $6.75 million to the plaintiffs, while K12 officials said they also continue to deny any claims of wrongdoing. The agreement between the two sides still must be approved by a judge in the case.

The lawsuit alleged the Herndon, Va.-based company misled shareholders by overstating its academic performance of its students, and by not providing accurate information about student-to-teacher ratios and how students are recruited. The lead plaintiff is the Arkansas Teacher Retirement System.

Vol. 32, Issue 24, Page 4

Published in Print: March 13, 2013, as K12 Inc. Settles Suit Filed by Investors
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