Grand Canyon Education Puts CFO on Paid Leave, Citing Government Investigation
By Elias Schisgall
Grand Canyon Education placed its chief financial officer on paid administrative leave, citing a government investigation into trades of the company's stock by a non-employee third party.
The education company placed CFO Daniel Bachus on leave effective Aug. 21, it disclosed in a Monday filing with the Securities and Exchange Commission. Chief Accounting Officer Lori Browning was appointed to serve as interim CFO.
The company did not disclose details of the investigation, but said it was not a focus of the probe and was cooperating with government investigators. It added that it had engaged outside counsel and opened its own investigation into the matter.
Bachus' leave did not stem from any issues with the company's financial statements or accounting practices or policies, the company said.
Bachus did not immediately respond to a request for comment.
Shares fell 2% to $144.72 in after-hours trading on Monday. The stock closed up roughly flat at $147.66, down 11% this year.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
August 24, 2026 16:56 ET (20:56 GMT)
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