K12 Inc. of Virginia has a class action lawsuit against it, as well as allegations of lack of effectiveness of its courses. K12 is the second biggest contributor to the Georgia charter school referendum which would privatize Georgia’s public schools. Shades of CCA desperately offering 48 states to privatize their prisons! And we know there’s a connection: ALEC helps push both private prisons and privatization of public schools. We didn’t fall for ALEC’s privatized prisons: let’s not fall for ALEC’s privatized schools.
Emma Brown wrote for the Washington Post 31 January 2012, Shareholder lawsuit accuses K12 Inc. of misleading investors,
A shareholder in Virginia-based K12 Inc. has filed a lawsuit against the virtual-schools operator in federal court, alleging that the firm violated securities law by making false statements to investors about students’ poor performance on standardized tests.
The class-action complaint, filed Monday in U.S. District Court in Alexandria, also accuses K12 of boosting its enrollment and revenues through “deceptive recruiting” practices.
Herndon-based K12 is the country’s largest operator of full-time public virtual schools, a growing sector in which students as young as five learn at home via computer.
The lawsuit comes after a spate of national news stories — including in The Washington Post — raised questions about the effectiveness of virtual schools, K12’s in particular. The firm’s stock has since plummeted.
There’s more in the article, and in the actual Class action suit against K12 Inc. Named in the suit are Ronald J. Packard (K12 Inc’s CEO and Founder) and Harry T. Hawks, executive vice president and chief financial officer, both pictured here.