Bronstein, Gewirtz & Grossman LLC is investigating potential claims on behalf of purchasers of the securities of Corinthian Colleges, Inc. (“Corinthian” or the “Company”) (NASDAQ:
) 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 comprise of 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 than usual to repay their loans – a factor that could affect for-profit education companies’ ability to get funding. A subsequent article in
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 aware of any facts relating to this investigation, or purchased shares of Corinthian you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email
. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate work, private securities offerings, and securities arbitration.