Stride Securities Suits Intensify as Investors Face Jan. 12 Lead‑Plaintiff Deadline
The cases target alleged inflated enrollment metrics linked to 'ghost students' alongside a concealed platform failure that preceded a 54% plunge.
Overview
- Hagens Berman, Portnoy Law Firm, and Glancy Prongay & Murray issued new notices inviting Stride investors to pursue lead‑plaintiff roles.
- The putative class covers purchases from October 22, 2024 through October 28, 2025, with motions due by January 12, 2026.
- Filings allege Stride padded enrollment with 'ghost students' and ignored compliance safeguards, including teacher caseload limits and background‑check and licensure rules.
- Stride disclosed on October 28 that a summer platform upgrade caused a 'poor customer experience' and an estimated 10,000–15,000 fewer enrollments, as cited in the notices.
- LRN shares fell about 54% on October 29 following the disclosure; an earlier 11.7% drop on September 15 followed news of a New Mexico school district’s fraud complaint.