The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of Corinthian Colleges, Inc. (“Corinthian” or “Company”) (NASDAQ: COCO) during the period of October 30, 2007 and August 19, 2010.
It has been alleged that during the class period, Corinthian and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing materially false and misleading statements regarding the Company, more specifically: (i) Corinthian overstated its growth prospects by engaging in illicit and improper recruiting activities, which also had the effect of artificially inflating the Company's reported results and future growth prospects; (ii) the Company's financial results were overstated in that the Company's colleges inflated tuition costs and its student loan repayment rates were well below levels required for participation in federal loan programs; and (iii) Corinthian failed to maintain adequate systems of internal operational or financial controls. Due to Corinthian’s alleged material omissions and false statements, the Company had no basis to issue positive statements concerning its prospects and growth during the class period, which had the effect of artificially inflating and sustaining the Company’s stock price.
If you currently own or purchased COCO shares and would like additional information regarding this investigation or if you have information regarding the allegations against the company, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.