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Corinthian Colleges Inc. Message Board

  • news_to_use news_to_use Jul 14, 2014 11:23 AM Flag

    California AG now must Settle because after losing Friday

    She was hoping to have COCO frozen and forced into a compromised position where they would have to settle on her terms. Now that she has lost, she cannot afford to lose at the next court hearing and must settle on COCO's terms because there is little evidence of any wrongdoing since terms like relevant employment are not defined in any regulations or code. It really is extremely hard to prove COCO has done false advertising without hard figures and the AG has none. Remember that it is the AG's job to prove that COCO has violated the law, and not COCO's job to prove anything. That's why this case will now never go to court. (and why California settled in 2007). I expect they have already started settlement talks after Friday's defeat and a settlement could be announced at any moment for an amount near what COCO settled for in 2007, in the $5-6 million range with no admission of wrongdoing. We should see a nice jump in the stock when it is announced. That's why COCO win in court on Friday was immediately followed by another negative article planted by hedge funds and/or Safalow to help gather shares. Don't forget that there are 28,716,738 shares they now must cover before the announcement. Don't give them yours!

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    • I figure that the negative article was for the purpose of taking another educator down rather than hit COCO harder. The fate of COCO is pretty much settled but they want the public to go along with further blood. But yes, the judge saw the AG's argument and said that they have nothing.

      • 1 Reply to p2ialias
      • P2, you may be right. Today, the ED is reviewing APOL's (UoP) federal aid status. It has a major presence in CA like COCO and was accused over the years for false advertising and poor job placement. Same charges as COCO. The President of the company was even subpoenaed and testify as to why it received Title IV funding, yet, the veterans did not get jobs. If you read below, the review is for an entirely different matter than what they alleged UoP did wrong for the last several years. Let me see, I guess they will find nothing is wrong after the review, and APOL will continue business as usual. COCO gets the shaft.

        Here is why the ED is doing a review in today's news:

        "The for-profit education company said Monday that the government review, which is scheduled to start Aug. 4, will initially cover the 2012-13 and 2013-14 years. The review will also cover the University of Phoenix's compliance with laws governing campus security and crime statistics and drug policy. The university has about 241,900 students."

    • News, the politicians can create any metric of measurements and ask the court to apply when it serves them. Had everything been operated under the law, then COCO would have not been assaulted like it did. I like to see how ED and politicians deal with APOL, CECO, EDMC, STRA, ESI, etc....I prefer to have a sale for Heald to happen first before any settlement talks happen.

0.0217-0.0014(-5.91%)Feb 27 3:58 PMEST

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