An investigation on behalf of investors of Education Management Corp (NASDAQ:EDMC) shares over potential breaches of fiduciary duties by certain officers and directors of Education Management Corp was announced and NASDAQ:EDMC investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/04/2012 -- Certain officer and directors of Education Management Corp are under investigation over possible breaches of fiduciary duties in connection with certain financial statements made by Education Management Corp.
Investors who are current long term stockholders of shares of Education Management Corp (NASDAQ:EDMC) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses concerns whether certain of its officers and directors of Education Management Corp have possibly breached their fiduciary duties owed to (NASDAQ:EDMC investors in connection with certain financial statements made by Education Management Corp. Specifically, the investigation focuses on whether a series of statements by Education Management Corp regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Education Management Corp (NASDAQ:EDMC) reported that its Total Revenue rose from over $2.01 billion for the 12 months period that ended on June 30, 2009, to over $2.88 billion for the 12 months period that ended on June 30, 2011, and its Net Income over the respective time periods increased from $104.41 million to $229.51 million.
However, its Total Revenue fell from over $2.88 billion to over $2.76 billion for the 12 months period that ended on June 30, 2012, and its Net Income of $229.51 million declined to a Net Loss of over $1.51 billion for the 12 months period that ended on June 30, 2012.
Shares of Education Management Corp (NASDAQ:EDMC) grew from as low as $8.25 per share in September 2010 to as high as$27.99 per share in December 2011.
Since then NASDAD:EDMC shares have lost substantial value and closed recently slightly under $3 per share.
Those who purchased shares of Education Management Corp (NASDAQ:EDMC) and currently hold those Education Management Corp shares, may have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com