Zamansky & Associates Files Lead Plaintiff Motion in Securities Fraud Class Action Lawsuit
Zamansky & Associates Files Lead Plaintiff Motion in Securities Fraud Class Action Lawsuit against Corinthian Colleges Inc. 4:28p ET October 29, 2010 (Business Wire) Zamansky & Associates LLC announced today that on October 29, 2010, it filed a lead plaintiff motion on behalf of an investor-client in the securities fraud class action lawsuit against Corinthian Colleges Inc. ("Corinthian or the "Company"), and certain of its officers and directors, pending in the United States District Court for the Central District of California. (No. 10CV6523). The lead plaintiff motion alleges that Zamansky & Associates' client is the investor with the largest known financial interest in the Corinthian lawsuit. Corinthian is accused in the class action lawsuit of violating United States securities law, causing artificial inflation of its stock price. According to the Complaint, Corinthian engaged in fraudulent practices which led to its overstating its revenues, enrollment and qualifications for continued participation in federal loan programs.
Zamansky & Associates is also investigating Grand Canyon Education Inc. (NASDAQ: LOPE); Bridgepoint Education, Inc. (NYSE: BPI); Capella Education Company (Nasdaq: CPLA); Career Education Corporation (Nasdaq: CECO); and The Washington Post Company (NYSE: WPO) --whether these Companies engaged in false and/or misleading statements and/or failed to disclose to investors: (1) their overstated growth prospects by engaging in illicit and improper recruiting activities, which also had the effect of artificially inflating the Companies' reported results and future growth prospects; (2) the Companies' financial results were overstated in that the Companies' colleges inflated tuition costs and its student loan repayment rates were well below levels required for participation in federal loan programs; (3) the Companies failed to maintain adequate systems of internal operational or financial controls; and (4) the Companies lacked a basis for their positive statements about their financial results, their prospects and growth. Investors in Strayer Education, Inc. (Nasdaq: STRA) should contact Zamansky & Associates immediately if they wish to file a lead plaintiff motion in the pending class action in the Untied States District Court in Florida, Middle District, Tampa Division. There is a deadline for filing a lead plaintiff motion. Please contact us for information on the deadline, and any other information about this lawsuit.