An investigation on behalf of investors of Grand Canyon Education, Inc. (NASDAQ: LOPE) shares over potential securities laws violations by Grand Canyon Education, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Grand Canyon Education, Inc. (NASDAQ: LOPE) concerning whether a series of statements by Grand Canyon Education, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Phoenix, AZ based Grand Canyon Education, Inc. provides education services in the United States. Grand Canyon Education, Inc. reported that its annual Total Revenue declined from $974.13 million in 2017 to $845.5 million in 2018 and that its Net Income increased from $203.31 million in 2017 to $229.01 million in 2018.

On January 28, 2020, a report was published entitled 'The Educational Enron' wherein a series of alarming red flags about Grand Canyon Education, Inc (GCU) were detailed. Specifically, the report stated that 'GCU has become a vehicle for the LOPE executives to commit securities fraud and obfuscate the true financials of Grand Canyon Education.' The report further stated, 'LOPE is in clear violation of SEC rule 10b-5 as they use the private university to dump expenses and liabilities, while receiving a disproportionate amount of revenue at inflated margins in order to artificially inflate the stock price.'

Shares of Grand Canyon Education, Inc. (NASDAQ: LOPE) declined from $132.12 per share in August 2019 to as low as $77.81 per share on January 31, 2020.