The Rosen Law Firm, P.A. announces that it is investigating potential civil securities claims against ITT Educational Services Inc. (NYSE:ESI) resulting from allegations that the Company may have issued materially inaccurate statements about the Company’s true financial condition and prospects.
On May 22, 2014, ITT announced that it was withdrawing its 2014 forecast and investors should no longer rely upon it due to uncertainties related to the accounting of its PEAKS private student loan program and its guarantee obligations under it. These uncertainties relating to the accounting treatment of PEAKS are also causing the delay in the filing of its 2013 annual report. In reaction to this news, shares of ITT fell $5.30, or approximately 21%, to close at $20.50 on May 22, 2014, damaging investors.
The Rosen Law Firm is preparing a securities class action lawsuit on behalf of ITT investors. If you purchased ITT stock prior to May 22, 2014 please visit the website at http://rosenlegal.com to join the class action. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.Attorney Advertising. Prior results do not guarantee a similar outcome.