|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.0025 - 0.0070|
|52 Week Range||0.0010 - 0.0200|
|PE Ratio (TTM)||-0.00|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Two former students of for-profit colleges and 18 states and D.C. are suing the Department of Education.
Goldman Sachs, Providence Equity Partners and Leeds Equity Partners acquired EDMC and its 70 schools for $3.4 billion in March 2006. Enrollment has dropped precipitously in the intervening decade, however, and is now estimated to be in the neighborhood of 65,000.
Education Management Corp scored a victory in its fight against an investor opposed to its $1.5 billion debt-cutting plan on Tuesday, when a U.S. appeals court overturned a decision in a closely watched case involving creditors' rights. The U.S. Court of Appeals in Manhattan said a lower court erred in its ruling that a Depression-era law, the Trust Indenture Act, barred Education Management's plan to restructure its debt. The appeals court also said the holdout creditor opposing the debt-cutting plan, Marblegate Asset Management LLC, could pursue its right to repayment by suing Education Management.