12/29/2023 0 Comments Cava k12![]() Never mind the educational implications- what will this do to the stock price? It tells you something about the nature of the charter biz that the news of Agora's proposed defection was widely covered in the investment world. By 2014 the parent company had become so toxic in PA that Agora took the unusual step of threatening to cut ties to K12. In Pennsylvania, Agora cyber charters were, like CAVA, cyber-schools that hired K12 to provide programs and management, and K12 almost lost them their charter all the way back in 2009 by mismanaging tax dollars. Back in 2012, Florida (a state not exactly known for its aggressive regulation of charters) was investigating K12 for using uncertified teachers and for grossly inflating its student numbers (in one case, a K12 manager told a teacher to sign off on a list of 100 students- the teacher only recognized seven names on the list). None of these sorts of shenanigans are new for K12. CCSA spokeswoman Emily Bertelli called the settlement "a good start." Those sixty corrective actions include doing away with giving recruiters incentive pay for each student enrolled and making sure that its advertisements aren't filled with lies.Īnd in keeping with recent trends in the charter industry, the California Charter School Association spoke up- on the side of the state. In other words, no experience in education, but lots of experience in making money from education. Udell is a longtime player in the charter biz- he holds business degrees from Bucknell and Columbia and has run Kaplan K12, Renaissance Learning, and Catapult Learning before taking the head spot at K12. K12 CEO Stuart Udell said that K12 didn't misbehave, was totally already going to take some of the corrective actions required by the state, and furthermore, the AG was "overstating" the cost of the settlement. "This settlement ensures K12 and its schools are heldĪccountable and make much-needed improvements."įor its part, K12 continues its history of stonewalling and denying all misbehavior. Satisfaction and loading nonprofit charities with debt," Harris said in a Questionable student attendance, misstating student success and parent Parents and the State of California by claiming taxpayer dollars for ![]() And then there was the matter of advertising: The investigation also found that the parent company leaned on the schools and pushed them to get themselves in deep debt. Soon thereafter, K12 was under investigation by the California Attorney General's office, which found that the company and its affiliated schools submitted inflated student enrollment figures (or, as we say in the regular world, lied) in order to collect more money from the state. In April, the Bay Area News Group published some serious investigative reporting that examined just how badly K12 was soaking the taxpayers of California. In addition, it must pay $8.5 million to the state. As part of the settlement, K12 must cancel $160 million in "credits" that CAVA "owed" it and which represented part of the crushing debt that K12 saddled CAVA with. K12, a for profit company, provides the curriculum and programming for CAVA, a non-profit cyber charter in California. ![]()
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