Federal Court Dismisses Securities Class Action Lawsuit Against K12

(RTTNews) - K12, Inc., (LRN) said Monday that a federal court has struck down a class action securities lawsuit against the company because the allegations failed to show K12 or its officers made any false or misleading statements to the market.

The lawsuit, which was filed in January by the Oklahoma Firefighters Pension & Retirement System, alleged that K12 committed corporate fraud in making public statements to investors about its business and financial prospects, but the court ruled that the statements the plaintiff alleged were fraudulent were not false or misleading.

No appeal was filed by the plaintiffs by the appeal deadline of December 5, according to K12.