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Stock Market & Financial Investment News

News Breaks
January 25, 2013
16:42 EDTBPIBridgepoint Education announces DoJ declines to intervene in qui tam complaint
Bridgepoint Education disclosed in a regulatory filing that on January 24 the company received notice that the United States Department of Justice, Civil Division has declined to intervene in a qui tam complaint filed by private relators under the Federal False Claims Act on July 2, 2010, unsealed on January 2 and served on the company on January 22. The qui tam complaint alleges, among other things, that since March 2005, Bridgepoint and Ashford University have violated the Federal False Claims Act by falsely certifying to the United States Department of Education that Ashford University was in compliance with federal rules regarding the payment of incentive compensation to enrollment personnel in connection with the institution's participation in student financial aid programs. We are currently evaluating the complaint and intend to vigorously defend against the allegations set forth in the complaint.
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