Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against ITT Educational Services, Inc.

Rigrodsky & Long, P.A.:
  • Do you, or did you, own shares of ITT Educational Services, Inc. (NYSE: ESI )?
  • Did you purchase your shares before April 22, 2010, or between April 22, 2010 and February 25, 2013, inclusive?
  • Did you lose money in your investment in ITT Educational Services, Inc.?
  • Do you want to discuss your rights?

Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of ITT Educational Services, Inc. (“ITT” or the “Company”) (NYSE: ESI) between April 22, 2010 and February 25, 2013, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of ITT during the Class Period, or purchased shares prior to the Class Period and still hold ITT, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to info@rigrodskylong.com, or at: http://www.rigrodskylong.com/investigations/itt-educational-services-inc-esi.

ITT is a leading proprietary provider of postsecondary degree programs in the United States based on revenue and student enrollment. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that: (a) the Company failed to properly account for the 2009 loan risk-sharing agreement and its PEAKS Private Student Loan Program (“PEAKS Program”); and (b) the Company failed to maintain proper internal controls to ensure that risk-sharing agreements were properly recorded. As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

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