Investor Sues Online Education Provider Over Coronavirus Misstatements

Mealey's (November 23, 2020, 1:38 PM EST) -- ALEXANDRIA, Va. — A technology-based education company that operates virtual learning systems and two of its senior executives violated federal securities laws by misrepresenting to investors that the company was technologically equipped to handle an influx of business stemming from the nationwide closure of in-class instruction in response to the global novel coronavirus pandemic, an investor alleges in a Nov. 19 securities class complaint filed in Virginia federal court (Yun Chau Lee v. K12 Inc., et al., No. 20-1419, E.D. Va.)....