Breaking News Bar
updated: 1/27/2014 2:29 PM

Career Education gets attorneys general inquiries

hello
Success - Article sent! close
 
Associated Press

NEW YORK -- Shares of Schaumburg-based Career Education and Education Management fell Monday after the for-profit education companies said that they had received inquiries from 12 states related to their business practices.

The inquiries focus on practices related to recruiting students, graduate placement statistics, graduate certification and licensing, student lending and other matters, Career Education Corp. and Education Management said in regulatory filings.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

Career Education said it got the questions on Friday. The company runs schools including Le Cordon Bleu North America and Colorado Technical University.

Pittsburgh-based Education Management, whose schools include Argosy University and Brown Mackie College, did not disclose when it received the inquiries in its filing on Friday.

For-profit education companies have faced public criticism in recent years over high drop-out rates, graduates' poor job prospects and the high debt levels of its students.

Career Education and Education Management both said that they plan to cooperate with the states involved.

Career Education's stock dropped 45 cents, or 7.4 percent, to $5.62 in afternoon trading. Through Friday's close, the shares had risen about 77 percent over the past 12 months.

Shares of Education Management Corp. fell 83 cents, or 8.6 percent, to $8.84. Over the last year, the stock has more than doubled.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here