Grand Canyon Education places CFO on paid leave citing government probe, shares drop
LOPE•Recent results and stock performance
Phoenix, Arizona-based LOPE last month reported second-quarter revenue rose nearly 7% year over year to $264 million on higher university partner enrollments, including at GCU and off-campus sites.
With the decline, LOPE shares are down about 14% year to date, and the stock is about 36% below its Oct. 24, 2025 record intraday high of $223.04.
CFO placed on paid leave amid government probe
Grand Canyon Education's LOPE.O shares were down 3.6% at $142.33 in early trading on Tuesday after the company put CFO Daniel Bachus on paid leave, citing a government probe.
The education services provider disclosed in a SEC filing late Monday that it placed Bachus on paid administrative leave, effective Aug. 21, related to an ongoing governmental investigation involving a non-employee third party’s trades in the company's stock.
Interim CFO named as company opens its own investigation
The company appointed accounting chief Lori Browning as interim CFO; Browning has been with LOPE since 2008.
Grand Canyon Education said Bachus' leave is not a result of any issues with the company's financial statements or accounting policies or practices, and said accounting is not a focus of the probe.
LOPE said it engaged outside counsel and opened its own investigation into the matter, and is cooperating with the government.
