October 10, 2013 |
California Atty. Gen. Kamala D. Harris filed a lawsuit Thursday against Corinthian Colleges Inc. and its subsidiaries, accusing the company of false and predatory advertising, securities fraud and intentional misrepresentations to students. The Santa Ana company, one of the world's largest for-profit college businesses, allegedly targeted low-income Californians through "aggressive marketing campaigns" that inaccurately represented job placement rates and school programs, the complaint said.
September 22, 2013 |
With the lingering effects of the Great Recession slowly disappearing, more business travelers are reserving high-priced hotel rooms and booking roomier seats in the front of the plane. But the luxury spending may be benefiting executives, not middle managers and lower-level workers. At the depth of the recession, most major companies restricted workers to flying in the economy section and booking budget hotel rooms. But some businesses now seem to be loosening the purse strings on the travel budget.
September 8, 2013 |
These have not been good times for Corinthian Colleges Inc. or its investors. Founded in 1995, Corinthian is one of the world's largest for-profit college companies, with an enrollment of about 81,000 students at 111 schools in 25 states and Canada. Operating under the names Everest, Heald and WyoTech, it offers job-training programs as well as associate's, bachelor's and master's degrees. The Santa Ana company has been under scrutiny about the way it recruits students and the high rate at which its students default on federal loans.
June 16, 2013 |
Shares of Corinthian Colleges Inc. fell 23% last week after the Santa Ana for-profit college chain disclosed that the Securities and Exchange Commission had launched an investigation into the company. Corinthian said it received a subpoena this month from the SEC related to student recruitment, degree completion, job placement, loan defaults and compliance with U.S. Education Department rules, among other issues. The company said in a securities filing it intends to cooperate with the SEC investigation.
May 1, 2008 |
For-profit education company Corinthian Colleges Inc. reported slightly lower quarterly profit, citing a loss from the sale of some schools, and said full-year earnings should come in at the low end of its previous forecast. The Santa Ana-based company, which has scrambled to retain students after Sallie Mae said it would stop providing private loans, said it now required most students to make monthly cash payments. It also has established a lending program and is working with third-party lenders to secure additional funds for students.
January 30, 2008 |
Corinthian Colleges Inc., the for-profit provider of post-secondary education, said Tuesday that its fiscal second-quarter profit tripled. However, the company also reduced its earnings forecast as it braced for student loan cutbacks. Net income rose to $8.11 million, or 10 cents a share, from $2.58 million, or 3 cents, a year earlier, the Santa Ana-based company said. Revenue for the quarter ended Dec. 31 increased 16% to $272.6 million. Corinthian and other education companies are preparing for a halt in lending by SLM Corp.