Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of purchasers of the securities of Corinthian Colleges, Inc. (“Corinthian” or the “Company”) (NASDAQ:COCO) concerning possible violations of federal securities laws. Corinthian is a post-secondary education company that offers various diploma programs, as well as undergraduate and graduate-level degrees in the United States and Canada. The Company’s degree curricula comprises business administration, criminal justice, accounting, marketing, computer information technology, and film and video, among other disciplines.
The investigation concerns allegations that certain statements made by the Company concerning its business and financial prospects were materially false and/or misleading. On August 13, 2010, the U.S. Department of Education issued a report suggesting that students have been slower to repay loans than expected – a factor that could affect for-profit education companies’ ability to get funding. A subsequent article in Barron’s noted that “Corinthian had a 22% repayment rate for Everest college, which makes up 85% of the firm’s revenue.” Following this news, shares of Corinthian fell $1.44 per share, or 22%, to close at $5.22 per share on August 16, 2010.
If you are a shareholder of Corinthian, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.