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Corinthian Colleges Inc. Message Board

  • kamoans kamoans Jun 10, 2013 6:02 PM Flag

    SEC Investigates Everybody

    Especially for-profit educators because their students are eligible for gov. students loans.

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    • The absolute biggest risk to all not-for-profits is that the government will cut off student loans. IMHO, that federal student loans will dry up is likely--conservatives want to cut the budget; liberals are in the tank for not-for-profit education. How much larger can the writing on the wall be?

    • I was a campus president for this company...they are in a world of trouble. Lies, horrendous admissions process and outcomes worse than you can possibly realize. You have been warned.

    • Funny the way Fool comment it today: == SEC is already investigating Corinthian's peers.

      i.e. COCO is not that obvious until now? or maybe COCO is really innocent!

      Here is the text:

      So what: Yesterday after hours, the SEC delivered a subpoena to Corinthian demanding documents related to areas including student recruitment, attendance, degree completion, job placement, loan defaults, and compliance with U.S. Department of Education rules. The investigation follows two subpoenas issued by state attorneys general in recent months. Recently, the Obama administration has been cracking down on for-profit colleges, many of which load up students with federal debt without leading them to jobs that allow them to repay it, and the SEC is already investigating Corinthian's peers.

      Sentiment: Hold

    • the SEC probed coco back in 2005, could not find anything and did not take any enforcement action against them. wash, rinse, repeat. if you buy on this dip, it could be easy money after the capitulation.

      I cant imagine a company failing to meet the regulatory requirements especially when they're already under such scrutiny. its like a movie star failing to pass a drug test when they've been released on house arrest... sound familiar.

      • 1 Reply to changwang2010
      • David Chu implied today that the SEC investigation is small compared to the problem at hand that the ED has disagree over some accounting measurements. And we might have to come up with $175M bond ..... but this was started in 2011, the price here has factored that risk into it. Finally ED should give in, because 2 accounting experts say coco is right. Even it is not, the money is for bond, not to be spent. as soon as the condition changes, we can return the money

        Sentiment: Hold

    • The SEC does not investigate everybody. Didn't you listen to the hearings two years ago when former students were testifying about how for-profit education institutions phony-up their books by making inflated claims about employment in the profession the student obtained their degree?

      The best one was a Univ of Phoenix graduate in game developer/programmer who was defined as getting a job in his profession when he had to settle for working at Game Stop.

      These institutions overcharged students who could never get gainful employment after graduation.

      For COCO, the chickens have been coming home to roost for a very long time. This is only the most recent salvo in a long running effort to expose COCO for the CE it always was....

    • It does not seem matter much, like you said SEC investigate every school. But we will go lower tomorrow. What the hell with SEC!

      Sentiment: Hold

0.0185-0.0013(-6.57%)Apr 24 3:38 PMEDT