Online Educator Misled Investors on Pandemic Prep, Suit Says

K12 Inc. misled investors about its capability to handle the increased demand for virtual learning during the coronavirus pandemic, a would-be class suit says in federal court in Virginia.

The online education firm also failed to disclose how it lacked adequate cyberattack protections before a 16-year-old successfully breached its network and knocked out services for several days, the investor complaint filed in the U.S. District Court for the Eastern District of Virginia says.

“We do not comment on allegations or ongoing litigation,” a K12 spokesperson told Bloomberg Law Friday. “We intend to defend ourselves vigorously against the claims set forth ...