August 14, 2017 (Shareholders Foundation) - An investigation on behalf of investors of American Public Education, Inc. (NASDAQ:APEI) shares over potential securities laws violations by American Public Education, Inc. (NASDAQ:APEI and certain of its directors and officers in connection with certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of American Public Education, Inc. (NASDAQ:APEI) concerning whether a series of statements by American Public Education, Inc. (NASDAQ:APEI regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Charles Town, WV based American Public Education, Inc. provides online and on-campus postsecondary education. American Public Education, Inc. reported that its annual Total Revenue declined from $327.91 million in 2015 to $313.14 million in 2016 and that its Net Income declined from $32.41 million in 2015 to $24.16 million in 2016.
On August 8, 2017, during aftermarket hours, American Public Education, Inc. revealed that it received a Civil Investigative Demand from the Attorney General of the Commonwealth of Massachusetts, relating to an investigation of alleged unfair or deceptive acts or practices by American Military University (AMU) in connection with the recruitment and retention of students and the financing of education. AMU is operated by American Public University System, Inc., American Public Educations wholly owned operating subsidiary. The Civil Investigative Demand requires the production of documents and information relating to recruitment, enrollment, job placement and other matters.
Shares of American Public Education, Inc. (NASDAQ:APEI) declined to as low as $18.25 per share on August 9, 2017.