NEW YORK, March 3, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Adtalem Global Education, Inc. (“Adtalem” or the “Company”) (NYSE: ATGE). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Adtalem and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On January 30, 2024, CNBC reported that Fahmi Quadir of Safkhet Capital had taken a short position in Adtalem Global Education shares, writing that the Company is “a toxic byproduct of an imperfect higher education system.” Quadir opined that the schools in Adtalem’s portfolio are pushing students into untenable debt loads and asserted “that Adtalem is completely uninvestable, the number of existential risks that exists today should cause alarm for any investor that’s looking into this company.”
On this news, Adtalem’s stock price fell $10.95 per share, or 18.68%, to close at $47.68 per share on January 30, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
