January 23, 2008 |
Shares of Corinthian Colleges Inc. plunged Tuesday after the operator of career training schools said Sallie Mae and two other lenders halted private loans for students with higher credit risks. High risk, or sub-prime, loans accounted for about 75% of Corinthian's student loan portfolio in the fiscal year ended June 30, the Santa Ana-based company said in a regulatory filing. Corinthian's stock suffered its biggest drop in more than three years on the news, falling $3.34, or almost 31%, to $7.
October 31, 2007 |
Higher education company Corinthian Colleges Inc. said quarterly profit rose 39% as the number of new students increased. Corinthian also said earnings for the 2008 fiscal year would come in at the high end of its previous forecast. The Santa Ana-based company reported fiscal first-quarter net income of $1.95 million, or 2 cents a share, compared with $1.4 million, or 2 cents, a year earlier.
October 18, 2007 |
Corinthian Colleges Inc., an operator of 126 schools in the U.S. and Canada, was subpoenaed by the federal government for documents from a Florida campus. The company's stock fell the most in more than two years of Nasdaq trading. The Education Department's inspector general served a search warrant on the National School of Technology campus in Fort Lauderdale, Corinthian said in a regulatory filing. The Santa Ana-based company said it didn't know what prompted the investigation.
August 29, 2007 |
Education company Corinthian Colleges Inc. of Santa Ana posted a loss for its fiscal fourth quarter, citing costs from closing some facilities. The net loss was $8.76 million, or 10 cents a share, contrasted with profit of $8.7 million, or 10 cents, a year earlier. Revenue increased 4.2% to $234.9 million.
CALIFORNIA | LOCAL
August 1, 2007 |
Corinthian Colleges, one of the nation's largest vocational school chains, has agreed to pay $6.5 million to settle a lawsuit alleging that the chain engaged in unlawful business practices by exaggerating its record of placing students in well-paying jobs. The company, based in Santa Ana and operating under the names Bryman College, Everest Colleges, Titan Schools Inc.
CALIFORNIA | LOCAL
July 3, 2007 |
A senior official in the California attorney general's office said Monday that the state would sue Corinthian Colleges by the end of the month if the large trade school chain does not agree to settle allegations that it misled prospective students by exaggerating its ability to place them in good-paying jobs. Al Shelden, senior assistant attorney general of the Consumer Law Section, spoke in an interview Monday just hours after Rep.