In re Career Education Corporation Securities Litigation

Settled: September 26, 2008

A $4.9 million settlement was obtained in this case involving allegations that the company provided false information to investors regarding the number of qualified students attending its schools and regarding the company's accounting for debt owed to its schools by current and former students.


The Order and Final Judgment approving the $4.9 million class action settlement in In re Career Education Corp. Securities Litigation was entered on September 26, 2008. Plaintiffs in the case had alleged that the company provided false information to investors regarding the number of qualified students attending its schools and regarding the company's accounting for debt owed to it's schools by current and former students.

Lou Gottlieb, counsel for Plaintiffs, stated, "We are pleased to have obtained this settlement on behalf of investors in view of the fact that the district court had dismissed the complaint. The case was pending before the Seventh Circuit when it settled."