Law Offices of Howard G. Smith announces that all persons or entities
who purchased the common stock of Career Education Corporation ("CECO"
or the "Company") (NASDAQ:CECO) between January 1, 2009 and November 1,
2011, inclusive (the "Class Period"), have until March 13, 2012 to move
the Court to serve as Lead Plaintiff in the securities fraud class
action lawsuit filed in the United States District Court for the
Northern District of Illinois.
CECO operates colleges, schools and universities that provide
educational services in career-oriented disciplines primarily in the
United States. The Complaint alleges that defendants misrepresented or
failed to disclose material adverse facts about the Company's business
and financial condition, including that: (i) defendants represented that
CECO's retention rates and employment, or "placement" rates following
graduation were higher than they actually were; (ii) defendants failed
to disclose that the Company's purported Placement rates were achieved
through an improper course of conduct and a manipulative use of the term
"employment"; (iii) the Company reported inflated placement rates to the
Accrediting Counsel for Independent Colleges and Schools, the
Accrediting Commission of Career Schools and Colleges, and its other
accrediting agencies; and (iv), as a result of the foregoing, defendants
misrepresented the health and condition of the Company, in particular
its ability to continue to receive Title IV Funding.
No class has yet been certified in the above action. Until a class is
certified, you are not represented by counsel unless you retain one. If
you purchased CECO common stock between January 1, 2009 and November 1,
2011, you have certain rights, and have until March 13, 2012, to move
for lead plaintiff status. To be a member of the class you need not take
any action at this time, and you may retain counsel of your choice. If
you wish to discuss this action or have any questions concerning this
Notice or your rights or interests with respect to these matters, please
contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone
at 215-638-4847, Toll Free at 888-638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
