Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 73

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 1
Chunk 73
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 more of their locations
    or programs to participate in the Title IV Programs or other federal or state financial aid programs;

    ●
    limits
    on, or termination, revocation, or nonrenewal of, our authorizations to operate our institutions in one or more states or ability
    to grant degrees, diplomas and certificates;

    ●
    restrictions
    on, or termination, revocation or nonrenewal of, our institutions’ approvals and/or accreditations or the approval and/or accreditation
    of one or more of our locations or programs;

    ●
    limitations
    on our operations including, but not limited to, our ability to open new institutions or locations (i.e., campuses), offer new programs,
    change the length of our existing programs, or increase enrollment levels or amounts of funding received from Title IV or other financial
    assistance programs;

    ●
    costly
    investigations, litigation or other adversarial proceedings; and

    ●
    civil
    or criminal penalties being levied against us or our institutions.

In
addition, findings or allegations of noncompliance may subject us to qui tam lawsuits under the Federal False Claims Act, under
which private plaintiffs seek to enforce remedies on behalf of the U.S. and, if successful, are entitled to recover their costs and to
receive a portion of any amounts recovered by the U.S. in the lawsuit. The U.S. can also bring a Federal False Claims Act claim on its
own behalf, and in either instance, a party found to have violated the Federal False Claims Act can be subject to treble damages. We
may be subject to similar lawsuits brought under state false claims acts. We may also be subject to other types of lawsuits or claims
by third parties. The costs of these proceedings may be significant, and we may not have sufficient resources to fund any material adverse
outcomes.

Any
penalties, repayment obligations, injunctions, restrictions, terminations, revocations, nonrenewal, lawsuits or other sanctions or conditions
could have a material adverse effect on our business, financial condition, results of operations and cash flows. If any of our institutions
lose or experience limitations on their Title IV Program eligibility, we would experience a dramatic decline in revenue, and we would
be unable to continue our business as it currently is conducted.

Any
failure to comply with state laws and regulatory requirements, including educational regulations, or new