Education Management unit received investigative demand from Massachusetts AG Education Management disclosed late Friday in a regulatory filing that its New England Institute of Art received a civil investigative demand from the Commonwealth of Massachusetts Attorney General in January 2013. The demand requests information for the period from January 1, 2010 to the present pursuant to an investigation of practices by the school in connection with marketing and advertising job placement and student outcomes, the recruitment of students and the financing of education. The company said it previously responded to a similar request that The New England Institute of Art received in June 2007 and that it intends to cooperate with the Attorney General in connection with their investigations.
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Education Management discloses receipt of subpoena from SEC Education Management disclosed in a regulatory filing that on May 13, the company received a subpoena from the division of enforcement of the Securities and Exchange Commission requesting documents and information relating to the letters of credit the company posted with the U.S. Department of Education and the company's compliance with the U.S. Department of Education's standards of financial responsibility for participation in Title IV programs. The company intends to cooperate with the SEC in its investigation.
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