New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 23, 2014
07:50 EDTCOCOCorinthian Colleges, Department of Ed agree in principle on transition plan
Corinthian Colleges announced that it has reached a memorandum of understanding with the U.S. Department of Education that maintains uninterrupted daily operations at its schools, until the company and the Department finalize a more detailed transition plan. Corinthian and the Department agreed upon a Memorandum of Understanding under which Corinthian will immediately receive $16M in federal student aid funds earned through enrollment, avoiding an immediate cash shortfall that will allow its students to continue their educational programs as planned. Under the terms of the MOU, Corinthian and the Department will enter into an Operating Agreement that will allow Corinthian to proceed with its plan to pursue strategic alternatives for its operations, including the sale and teach-out of schools in a manner that will best protect the interests of students, faculty and staff, ensure the integrity of federal student aid funds and preserve the value of the schools. Under the MOU, Corinthian will identify and engage an independent compliance and business monitor acceptable to the Department. The monitor will have full access to Corinthian's financial and operating records and information and report to the Department on Corinthian's progress in the implementation of the transition plan contemplated by the MOU. The Department and Corinthian have agreed to finalize the details of the transition plan in an Operating Agreement by Tuesday, July 1.
News For COCO From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 16, 2014
17:30 EDTCOCOCorinthian Colleges enters into Forbearance and Consent Agreement
Subscribe for More Information
October 15, 2014
07:07 EDTCOCOFor profit education positive catalysts outweigh negative, says Wells Fargo
Wells Fargo expects for-profit education stocks to benefit from improved hiring trends and a sale by Corinthian of its assets that, according t othe firm ,would set a valuation floor for the sector. The firm continues to believe that the final gainful employment rule will be neutral to positive for the group. Wells favors the option value on the long side for the sector. Publicly traded companies in the space include American Public Education (APEI), Apollo Education (APOL), Bridgepoint Education (BPI), Career Education (CECO), Corinthian Colleges (COCO), DeVry (DV), Grand Canyon (LOPE), ITT Educational (ESI) and Strayer (STRA).

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use