Join        Login             Stock Quote

Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against Career Education Corporation

Friday, February 3, 2012 9:30 PM

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.

(Source: Business Wire )
(Source: Quotemedia)


Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.