Online Education Support Provider Sued Over Revenue Growth Misstatements

Mealey's (January 7, 2022, 9:14 AM EST) -- SAN JOSE, Calif. — A California-based online purveyor of academic support services and several of its senior executives materially misled investors in violation of federal securities laws by failing to disclose that the company’s revenue growth was a temporary benefit of nationwide remote learning in higher education during the COVID-19 pandemic and would not last, a shareholder argues in a Dec. 22 complaint filed in California federal court....