The Briscoe Law Firm Investigates Corinthian Colleges, Inc. on Behalf of Shareholders for Possible Breaches of Fiduciary Duti...
10 Septembre 2010 - 7:01PM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the law firm of Powers Taylor, LLP are
investigating potential legal claims against the Board of Directors
of Corinthian Colleges, Inc. (“Corinthian” or “Company”) (NASDAQ:
COCO) during the period of October 30, 2007 and August 19,
2010.
It has been alleged that during the class period, Corinthian and
certain of its officers and directors violated the Securities
Exchange Act of 1934 by issuing materially false and misleading
statements regarding the Company, more specifically: (i) Corinthian
overstated its growth prospects by engaging in illicit and improper
recruiting activities, which also had the effect of artificially
inflating the Company's reported results and future growth
prospects; (ii) the Company's financial results were overstated in
that the Company's colleges inflated tuition costs and its student
loan repayment rates were well below levels required for
participation in federal loan programs; and (iii) Corinthian failed
to maintain adequate systems of internal operational or financial
controls. Due to Corinthian’s alleged material omissions and false
statements, the Company had no basis to issue positive statements
concerning its prospects and growth during the class period, which
had the effect of artificially inflating and sustaining the
Company’s stock price.
If you currently own or purchased COCO shares and would like
additional information regarding this investigation or if you have
information regarding the allegations against the company, please
contact Patrick Powers at Powers Taylor, LLP, toll free (877)
728-9607, via e-mail at patrick@powerstaylor.com or Willie Briscoe
at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via
email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to
you.
The Briscoe Law Firm is a full service business litigation,
commercial transaction, and public advocacy firm with more than 20
years of experience in complex litigation and transactional
matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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