CALIFORNIA | LOCAL
February 10, 2005 |
Twenty-four current and former students have sued Corinthian College in Long Beach, accusing the school of misrepresenting their ability to pass the state's certified medical assistant examination after completing their studies. Last month, the Securities and Exchange Commission completed an informal review of Corinthian Colleges Inc., the school's parent company, the firm said.
January 25, 2005 |
Santa Ana-based Corinthian Colleges Inc., which specializes in schools for healthcare professionals, said Monday that the Securities and Exchange Commission ended an informal inquiry without recommending action. Corinthian shares rose $1.74 to $18.86 on Nasdaq, their biggest gain in four months. The SEC was reviewing the company's projections, financial statements and communications with analysts and investors during the fiscal year ended June 30 and for the quarter ended Sept. 30.
November 19, 2004 |
Corinthian Colleges Inc., which specializes in schools for healthcare professionals, named board member Jack Massimino as president and chief executive, effective immediately. The shares fell nearly 12%. Massimino, 55, who has been on Corinthian's board for six years, succeeds David Moore, the Santa Ana-based company said. Moore, 66, will remain chairman. Massimino takes over as the company faces an investigation by the Securities and Exchange Commission into financial statements.
September 23, 2004 |
Corinthian Colleges Inc., facing state and federal investigations, said Wednesday that its Bryman College campus in San Jose was again able to comply with the U.S. Education Department's rules to receive tuition reimbursements in advance. The Santa Ana company, one of the largest for-profit operators of trade and technical colleges in the U.S. and Canada, acknowledged in June that a government review had found that the San Jose campus failed to meet student financial aid requirements.
September 21, 2004 |
Corinthian Colleges Inc., already hit with federal and state investigations, said Monday that the Securities and Exchange Commission has launched an informal probe into the company. The SEC is looking at company statements and performance during the fiscal year that ended June 30 and for the quarter ending Sept. 30, Corinthian said in a statement. The company said it believed the SEC also was looking at a U.S.
September 6, 2004 |
With a successful business as a personal chef, Elizabeth Simek was living the dream of every weekend gourmet. Her Busy B's Personal Chef Service was pulling in more than $50,000 a year. But Simek worried that it wouldn't last. So the Peoria, Ariz., entrepreneur set out to earn a bachelor's degree in business management through an online program from Florida Metropolitan University, one of dozens of trade and technical colleges run by Santa Ana-based Corinthian Colleges Inc.
September 2, 2004 |
Corinthian Colleges Inc. reported a 6% increase in quarterly net income Wednesday despite heavy spending on its schools and turmoil caused by a federal investigation and several lawsuits. The Santa Ana-based education company's earnings were slightly better than Wall Street's recently diminished expectations, pushing its shares up $2.64, or 23%, to $14.01 on Nasdaq. For its fiscal fourth quarter ended June 30, Corinthian earned $19.
August 3, 2004 |
Corinthian Colleges Inc. said Monday that it fell far short of its earnings target for its fiscal fourth quarter and warned that the trouble would carry over into the new fiscal year. The revelations sent Corinthian's stock plummeting 45%. The Santa Ana-based company said it expected to earn 19 to 20 cents a share in the quarter, which ended June 30, well below its April forecast of 27 cents.
June 25, 2004 |
Shares of Corinthian Colleges Inc. plunged 10% Thursday on a report that the U.S. Department of Education found fraud in federal loan requests at the company's Bryman College in San Jose. Corinthian shares closed off $2.55 at $22.51 on Nasdaq after trading as low as $20.90. The Financial Times said the Education Department's Office of Federal Student Aid in San Francisco found that Bryman officials helped students manipulate financial aid documents.