Investor Accuses Princeton Review Of Fraud

Law360, New York (July 29, 2011, 3:54 PM EDT) -- A Michigan retirement fund hit The Princeton Review Inc. with a class action Friday in Massachusetts claiming former CEO Michael Perik falsely touted strong earnings in 2009 as the test preparation company planned a $48 million stock sale.

The Washtenaw County Employees' Retirement System's suit claims Perik, who was hired in 2007 to put the Framingham, Mass.-based company back on a path to profit amid poor earnings, told investors in November 2009 that "the turnaround has worked."

Then, in April 2010, the company sold $48 million of stock at $3 per share, the suit says.

By November, however, Perik's tune changed,...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Attached Documents

Related Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only


Subscribers Only

Nature of Suit

Subscribers Only


Subscribers Only

Date Filed

Subscribers Only

Law Firms


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!