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LOPE.US
id: 1045

Grand Canyon Education (LOPE) FTC Suit for Deceptive Conduct Case

  • On October 31, 2023, the U.S. DoE announced a fine against Grand Canyon’s (LOPE) principal subsidiary GCU for lying to prospective and current students about the costs of doctoral programs. On December 27, 2023, the FTC filed suit against Grand Canyon and GCU for similar conduct.
  • On it, $LOPE fell 6.36%, losing $270M+ of shareholder value.
  • Investors may have grounds to suspect Grand Canyon of deceptive conduct, which led to their losses.
On October 31, 2023, the U.S. Department of Education announced a record fine of $37.7 million against Grand Canyon’s principal subsidiary Grand Canyon University (“GCU”) for years of lying to prospective and current students about the costs of GCU’s doctoral programs.

On December 27, 2023, the Federal Trade Commission filed suit against Grand Canyon and GCU for similar conduct, as well as other deceptive conduct, including GCU’s supposed nonprofit status, and deceptive telemarketing practices.

On this news, $LOPE fell 6.36% and lost over $270 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect Grand Canyon of deceptive conduct, which led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
28 December 2023
Collecting participants…

Grand Canyon Education Inc

Grand Canyon Education, Inc. provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administrat...

    Ticker
    LOPE.US
    ISIN
    US38526M1062
    CIK
    1434588
    Sector
    Consumer Defensive
    Industry
    Education & Training Services
    Country
    USA
    Address
    2600 West Camelback Road, Phoenix, AZ, United States, 85017