Grand Canyon Education (ticker LOPE) filed an 8-K disclosing that its board unanimously decided to place CFO Daniel Bachus on paid administrative leave, effective August 21, 2026, in connection with a government investigation into a non-employee third party's trades in the company's stock. The filing stresses the matter has nothing to do with the company's financial statements or accounting policies, and that the company itself is not the focus of the investigation. It has brought in outside counsel, is running its own internal review, and is cooperating with the government. Longtime Chief Accounting Officer Lori Browning takes over as interim CFO.
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