Tuesday, January 28, 2014
State attorneys general investigating major for-profit school businesses
A coalition of attorneys general from at least 12 states is investigating major for-profit school companies, according to recent news reports. The investigation reportedly includes Education Management Corp., Corinthian Colleges, Career Education Corp, and ITT Tech. The Huffington Post reports that each company has filed disclosures with the Securities Exchange Commission regarding the investigation, and "Each school said it was being probed by a group of 12-13 state AGs, with the AGs of Kentucky, Iowa, Pennsylvania, and Connecticut each taking the lead on investigating one of the companies. All four companies said they intended to cooperate."