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Stock Market & Financial Investment News

News Breaks
May 6, 2014
07:47 EDTCOCOCorinthian Colleges reports Q3 EPS ex-itmes 3c, consensus 5c
Reports Q3 revenue $349.8M, consensus $355.13M. Reports Q3 total student population at March 31 was 74,498 versus 86,297 at March 31, 2013, a decrease of 13.7%. The average student population was 76,407, down 12.4%. New student enrollments totaled 22,853 versus 26,288, a decrease of 13.1%.
News For COCO From The Last 14 Days
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September 26, 2014
17:07 EDTCOCOCorinthian receives CID from DoJ over grade manipulation, seeks more liquidity
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September 19, 2014
17:40 EDTCOCOCorinthian Colleges received grand jury subpoena on September 3
On September 3, the company received a grand jury subpoena for documents from the United States Attorney’s Office in the Middle District of Florida. The subpoena seeks documents and records relating to an internal investigation of a former employee’s misconduct at the Everest Brandon campus and the company’s return of Title IV funds as a result of the investigation. The company initially self-reported the results of the internal investigation to the Office of Inspector General for the Department of Education on June 28, 2013. It is not clear whether the subpoena seeks this information regarding the former employee, the company or both. The company is evaluating the subpoena and intends to cooperate fully with the request. On September 10, the company received a grand jury subpoena for documents from the United States Attorney’s Office in the Northern District of Georgia. The subpoena seeks documents and records relating to the Everest Jonesboro and Everest Decatur campuses regarding matters including job placement, graduation rates, admissions, attendance, and student and employee information. The grand jury subpoena is signed by the same assistant United States attorney that assisted with the original, April 11, 2011 civil investigative demand for similar documents related to the same two campuses. The company is evaluating the subpoena and intends to cooperate fully with the request. On September 15, the company received a letter from the Accrediting Commission of Career Schools and Colleges, or ACCSC, the institutional accrediting agency for forty campuses, notifying the company that it was placing the Corinthian system of schools on “Warning,” continuing the company’s schools on Employment Verification Reporting, continuing to review the materials and responses submitted by the company regarding all outstanding matters both within ACCSC and externally, directing the company’s ACCSC schools to inform current and prospective students that it is on Warning, placing Corinthian’s schools on Financial Reporting, and restricting the company’s schools from applying for certain substantive changes.
September 16, 2014
13:00 EDTCOCOCorinthian Colleges sued by CFPB over predatory loans, Reuters says
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