The information contained on this website is only a summary of the information presented in more detail in the Notice of Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion For Attorneys’ Fees and Litigation Expenses. Because this website is just a summary, you should review the Notice for additional details.

Summary of the Action and Settlement

In this securities class action, the Court-appointed Lead Plaintiffs, Fire and Police Pension Association of Colorado, Oakland County Employees’ Retirement System, and Oakland County Voluntary Employees’ Beneficiary Association Trust (together, “Lead Plaintiffs”) alleged that Grand Canyon Education, Inc. ("Grand Canyon") and certain of its executives, Chief Executive Officer Brian E. Mueller and Chief Financial Officer Daniel E. Bachus (together, the “Individual Defendants”), violated the federal securities laws by making false and misleading statements during the Class Period regarding the Company’s 2018 sale of Grand Canyon University, a for-profit university it owned and operated, to an entity organized as an Arizona nonprofit corporation. A more detailed description of the Action is set forth in paragraphs 11-25 of the Notice. Defendants, who deny all allegations of wrongdoing or liability whatsoever, entered into the Settlement solely to eliminate the uncertainty, burden, and expense of further protracted litigation.

Lead Plaintiffs, on behalf of themselves and the Settlement Class, have settled the Action for $25,500,000 in cash (the “Settlement”). 

On August 22, 2024, the Court held a hearing to consider final approval of the Settlement and other matters. The same day, the Court entered a final Judgment approving the Settlement, an order approving the Plan of Allocation, and an order approving Lead Counsel’s motion for attorney's fees and litigation expenses.

If you are a member of the Settlement Class, your legal rights will be affected and you may be eligible for a payment from the Settlement. The Settlement Class consists of:

all persons or entities who purchased Grand Canyon common stock during the period from January 5, 2018 through January 27, 2020, inclusive, and who were damaged thereby.

Certain persons and entities are excluded from the Settlement Class by definition (see paragraph 26 of the Notice) or if they requested an exclusion pursuant to the instructions set forth in the Notice.

The Net Settlement Fund (i.e., the Settlement Amount plus any and all interest earned thereon (the “Settlement Fund”) less (a) any Taxes, (b) any Notice and Administration Costs, (c) any Litigation Expenses awarded by the Court, (d) any attorneys’ fees awarded by the Court; and (e) any other costs or fees approved by the Court) will be distributed in accordance with a plan of allocation that is approved by the Court, which will determine how the Net Settlement Fund shall be allocated among members of the Settlement Class who filed valid and timely Claim Forms. The Plan of Allocation approved by the Court is attached to the Notice as Appendix A.

Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found in the menu at the top of this page.

Payments to eligible claimants will be made only after the completion of all claims processing. Please be patient, as this process will take some time to complete.

How do I obtain more information?

Detailed information about the Settlement is contained in the Notice, a copy of which can be found in the menu at the top of this page. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 855-208-4129 or emailing info@GrandCanyonSecuritiesLitigation.com or mailing a letter to:

In re Grand Canyon Education, Inc. Securities Litigation
c/o JND Legal Administration
PO Box 91065
Seattle, WA 98111

Inquiries should NOT be directed to the Court or the Clerk of the Court.