Corinthian to Review Option Grants

Shares in Corinthian Colleges(COCO Quote - Cramer on COCO - Stock Picks) fell 3% after the education company began reviewing stock option grants dating back to the company's initial public offering in 1999.

The Sarta Ana, Calif.-based company said it initiated its review following extensive news coverage and analyst reports about the option granting practices of numerous companies.

Corinthian's board has established a special committee of independent directors to review these matters and take any action deemed appropriate, it said. The company told the Securities and Exchange Commission about the review.

Shares fell 37 cents to $13.65.