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March 21, 2014
17:35 EDTESIITT Educational says did not file timely Form 10-K
ITT Educational Services announced that it did not file its annual report on Form 10-K for the fiscal year ended December 31, 2013 on or before the extended due date of March 18. The company has received a notice from NYSE that the company is subject to the NYSE’s procedures under its timely filing criteria as a result of the company’s failure to file the 2013 Form 10-K by March 18. As previously disclosed, issues relating to the accounting treatment for the variable interest entity involved in the PEAKS Private Student Loan Program have caused the delays associated with completing the company’s financial statements, footnotes and related disclosures for the 2013 Form 10-K. The company submitted a preclearance request to the Office of the Chief Accountant of the SEC on March 18 relative to the accounting treatment for the variable interest entity involved in the PEAKS Program, and the company is also continuing to work to complete other items necessary to finalize the company’s financial statements, footnotes and related disclosures.
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August 26, 2014
07:25 EDTESIITT Educational has negative read through from Corinthian, says Wells Fargo
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August 25, 2014
08:52 EDTESIITT Educational volatility elevated into Q2 and outlook
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07:23 EDTESIGovernment not looking to push other colleges out of business, says Wells Fargo
In the wake of Corinthian Colleges' (COCO) dissolution due to actions taken by the Department of Education, Wells Fargo thinks the government did not intend for this scenario to unfold. After speaking with unnamed "knowledgeable sources" about the issue, the firm does not expect the department to take similar actions in the future because doing so would create too much of a workload for the department, Wells believes. 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).

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