The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the March 13, 2012 deadline to move for appointment as lead plaintiff in the securities class action against Career Education Corporation (“Career Education” or the “Company”) (NasdaqGS: CECO), brought on behalf of purchasers of Career Education common stock between January 1, 2009 and November 1, 2011, inclusive (the “Class Period”). If you purchased Career Education common stock during the Class Period, you may move the Court for appointment as lead plaintiff no later than March 13, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek lead plaintiff appointment. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action. Career Education shareholders who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon Lee of Lieff Cabraser at (800) 541-7358. Career Education is a for-profit education company that operates more than 90 campuses in the United States and abroad. On May 17, 2011, Career Education stock fell 1.2 percent after it disclosed that it had received a subpoena from the Attorney General of the State of New York requesting documents pertaining to graduate job placement rates, among other information. On August 3, 2011, Career Education announced that it had “identified improper practices at certain of its campuses relating to the determination of reported placement rates” and that it had retained outside legal counsel to conduct an investigation. On this news, the Company’s stock price fell $3.36 per share, or 15.4 percent. Then, on November 1, 2011, Career Education announced that its outside counsel confirmed the existence of improper placement practices at certain schools and that only 13 of 49 accredited Health Education and Art & Design schools met the accrediting agency’s minimum job placement rate standard. On the same day, the Company revealed that its President and CEO had resigned. On this news, Career Education shares fell $7.63 per share, or 47.8 percent.
Lieff Cabraser is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.For more information about Lieff Cabraser and the firm’s representation of investors, please visit http://www.lieffcabraser.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.