investors should read coco response to cali a/g complaint. Go to coco website under investors tab and current issues and reports. I know bears wont care but for those that are considering buying but scared off by complaint its a very worthwhile reading. COCO is not a fraud and a/g looks foolish with the complaint.
I read the response. Are you kidding me? COCO is using rhetoric as band aids instead of addressing the issues.
This is like Bernie Madoff arguing that he informed investors that funds might not be directly invested immediately but might be deferred to alternative investments as an interim method so he did nothing wrong!
Corinthian, which gets about 90 percent of its revenue from taxpayer money, is the subject of numerous student and staff complaints, and is under investigation by at least five other state attorneys general (FL, IL, KY, NY, OR), the federal Consumer Financial Protection Bureau, and the Securities and Exchange Commission. Two-thirds of Corinthian's associate degree students drop out; three-quarters of former students can't pay down their loans, and 36 percent default within three years, the highest rate of all publicly-traded college businesses."
"Graduation statistics can also be instructive. Six Heald College campuses flagged by the California Student Aid Commission lost their Cal Grant eligibility for graduating fewer than 30 percent of their students in 2010."
Read more here: http://www.adn.com/2013/11/12/3173899/heald-college-students-echo-california.html#storylink=cpy
Anybody at COCO want to address FACTS as opposed to rhetoric?
1. 2/3 of students drop out. That's 66% with debt and no benefit.
2. 75% can't repay loans. That's a 3 in 4 failure.
3. The highest rate of default in the industry.
COCO is arguing about what Massimo said or might have said. Who cares? COCO thinks this is a rhetroic/debate class, where we argue the context and intention of words. What about the students and the lost taxpayer money?