Stride, Inc.
Company Name | Stride, Inc. |
Stock Symbol | LRN |
On October 16, 2024, Fuzzy Panda Research published a report alleging, among other things, that Stride has been “misleading investors about a major source of its profits,” estimating that the Company’s Elementary & Secondary School Emergency Relief Funds (“ESSER”) accounted for 26% of 2024 EBITDA and 45% of Net Income and that the “total increase in revenue for Stride Schools from FY 2021-2024 due to ESSER grants alone is >$330 million of revenue.” Additionally, the report stated that Stride “collected taxpayer dollars for kids they were not educating,” with an estimated 5-10% inflation of enrollment numbers due to “Ghost Students.”
On this news, Stride’s stock price fell $6.55, or 9.3%, to close at $64.04 per share on October 16, 2024, thereby injuring investors.
Submit Your Information
If you suffered a loss on your Stride, Inc. investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.