The law firm of Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., announce the commencement of an investigation into Lincoln Educational Services Corporation ("Lincoln" or the "Company") (Nasdaq: LINC) to determine whether it has violated federal securities laws by issuing false and misleading statements to its shareholders between the dates of March 3, 2010 to August 5, 2010.
On August 5, 2010, shares of Lincoln fell over $4.35, or 21%, to below $16.25 in regular session trading, after the Company warned that third quarter and full year 2010 results would be well below expectations because it would begin imposing much stricter recruitment standards. This change appears to have followed recent media reports of widespread abuse in the private education sector, as well as reports that the federal government would begin investigating such reported abuses. At that time, the Company also stated that it expects student “starts” at its campuses to be flat the rest of the year, as opposed to its previously expected increase of 13% to 15% this year.
If you have information that would assist KSF in its investigation, or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call KSF Director of Client Relations, Neil Rothstein, Esq. (
), toll free at 877-694-9510, or via cell phone 330-860-4092, or KSF Managing Partner, Lewis Kahn (
), toll free 1-866-467-1400, ext. 200, after hours via cell phone 504-301-7900. KSF attorneys have significant experience in representing both institutional and individual shareholders in securities fraud litigation nationwide. KSF encourages both institutional and individual purchasers of LINC to contact the firm to discuss the investigation.
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