The Shareholders Foundation announces that an investigation for investors in shares of ITT Educational Services, Inc. (NYSE:ESI) was initiated over potential violations of Federal Securities Laws by ITT Educational Services.
If you purchased shares of ITT Educational Services, Inc. (NYSE:ESI) you have certain options and you should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether ITT Educational Services and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. More specifically the investigation focuses on ITT Educational Services’ compliance with relevant accounting standards when reporting its risk-sharing activities in loan programs.
On February 22, 2013, after the market closed, ITT Educational Services filed its annual report. ITT Educational Services disclosed that it was being investigated by SEC concerning the company’s involvement in some private student-loan agreement. ITT Educational Services said it received a subpoena from the SEC on February 8, 2013. The subpoena issued by the SEC requested documents related to a 2009 loan risk-sharing agreement and its PEAKS Private Student Loan Program.
Shares of ITT Educational Services, Inc. (NYSE:ESI) declined from over $75 in February 2012 to as low as slightly above $12 in April 2013.
Those who are current long term stockholders of shares of ITT Educational Services, Inc. (NYSE:ESI), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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