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Bridgepoint Education's shares dropped 10% or so today as a result of an announcement the company made last night, that the DOJ had opened an investigation into the company's payment of admissions employees.

This isn't good news and makes the company's prospects bleaker, at least in the short term (piling on top of the accreditation headaches it's already suffering). I want to see what MDP is going to say about this and talk things over with Charly Travers here before deciding if I should hold on or cut my losses here. Even before the news, shares were down over 50% from my purchase price of a bit over $20.

When catalysts don't work, they really don't work. :-P

Cheers,
Jim
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When do you expect them to release their Q3 results?
Sometime in early November?

I don't own any BPI, but it seems to me if I did, I'd wait at least until I could read the next 10-Q

Looking forward to see how you and MDP decide on this.


blesto
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Hi Jim,

I'm sure you're aware of this, but Jim Gillies has some good insight into this company as well.

Fletch
Long BPI
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Did you see the post by Jim Gillies on this co. on the HG board?

sw
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