Edison Schools Keeps Falling

Shares of Edison Schools (EDSN Quote) resumed their downward trajectory Thursday after the operator of public schools said it was unable to file its quarterly report on time, citing a recently issued Securities and Exchange Commission order which required adjustments in its financial statements.

The latest drop comes as Edison lost a contract three years before it was to expire with Boston Renaissance Charter School. Recently, Edison was off 17.3% at $1.86, which is 90% below beginning-of-the-year levels. ...