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Stock Market & Financial Investment News

News Breaks
January 25, 2013
16:50 EDTESIITT Educational chief administrative, legal officer to retire May 10
ITT Educational disclosed in a regulatory filing that on January 21, Clark Elwood, the executive VP, chief administrative and legal officer, announced his retirement from the company effective May 10.
News For ESI From The Last 14 Days
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January 27, 2016
12:28 EDTESIFor-profit education names fall after FTC sues DeVry over marketing
DeVry Education (DV) and its peers in the for-profit education space are falling after the Federal Trade Commission filed suit against the company, alleging that DeVry's advertisements "deceived" consumers about the likelihood of finding jobs in their chosen fields of study and earning more than graduates from other universities. In a related action, the Department of Education is also moving against the company for those same practices, requiring it to stop the allegedly deceptive advertisements and take steps to ensure it can verify the truthfulness of its post-graduation employment outcomes, including hiring an independent auditor and informing students of its "unsubstantiated" statistics. The Department's action comes after its investigation of DeVry found the postgraduation employment claims "have not been substantiated to the extent required by law." PRICE ACTION: Shares of DeVry crashed 13.5% to $20.54 following the news, while Apollo Education (APOL), ITT Educational (ESI) and Strayer Education (STRA) each slid over 2% and Bridgepoint (BPI) fell 1%.

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