The law firm of Kirby McInerney LLP announces that a class action lawsuit- MacMahon v. Stride, Inc. et al. - has been filed on behalf of investors who acquired Stride, Inc. (“Stride” or the “Company”) (NYSE: LRN) securities during the period of October 22, 2024 through October 28, 2025, inclusive (“the Class Period”).

If you suffered a loss on your Stride investments, you have until January 12, 2026 to request lead plaintiff appointment. For more information:

[CONTACT THE FIRM IF YOU SUFFERED A LOSS]

What Is This Lawsuit About? The lawsuit alleges that Stride made misleading statements and omissions regarding the Company’s products and services to public and private schools, school districts, and charter boards. Throughout the Class Period, Stride represented to investors that "[t]hese products and services, spanning curriculum, systems, instruction, and support services are designed to help learners of all ages reach their full potential through inspired teaching and personalized learning." Unbeknownst to investors, Stride was inflating enrollment numbers, cutting staff costs beyond required statutory limits, ignoring compliance requirements, and losing existing and potential enrollments.

On September 14, 2025, a report stated that the Gallup-McKinley County Schools Board of Education had filed a complaint against Stride, alleging fraud, deceptive trade practices, systemic violations of law, and intentional and tortious misconduct, including inflating enrollment numbers by retaining “ghost students” on rolls to secure state funding per student and ignoring compliance requirements, including background checks and licensure laws for its employees. On this news, the price of Stride shares declined by $18.60 per share, or approximately 11.7%, from $158.36 per share on September 12, 2025 to close at $139.76 on September 15, 2025.

On October 28, 2025, the Company announced that “poor customer experience” had resulted in “higher withdrawal rates,” “lower conversion rates,” and had driven students away. Stride estimated the impact caused approximately 10,000-15,000 fewer enrollments and stated that, because of this, its outlook is “muted” compared to prior years. On this news, the price of Stride shares declined by $83.48 per share, or approximately 54.4%, from $153.53 per share on October 28, 2025 to close at $70.05 on October 29, 2025.

[LEARN MORE ABOUT THE LAWSUIT]

The Lead Plaintiff Appointment Process. The federal securities laws permit any investor who acquired eligible securities during the class period to seek appointment as lead plaintiff in a class action lawsuit. Courts typically appoint the investor(s) with the largest financial loss in the case and the ability to represent the class rather than investors with simply the largest investment portfolio. Courts regularly appoint individual investors, whether acting alone or as a group, as lead plaintiffs. The rights of any investor who bought shares during the class period are generally already protected. However, lead plaintiffs have the power to influence case strategy and have a say in settlement decisions, as well as decisions concerning allocation of settlement funds among class members.

[LEARN MORE ABOUT THE LEAD PLAINTIFF PROCESS]

What Should I Do? If you purchased or otherwise acquired Stride securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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