Tuesday, June 11, 2013

Securities and Exchange Commission investigates Everest College's parent company

The Securities and Exchange Commission is investigating Corinthian Colleges Inc., the for-profit chain disclosed Monday in a corporate filing. Corinthian is the parent company to Everest College, a for-profit chain of technical colleges that has abysmal graduation and job placement rates.

In a subpoena, the commission requested documentation relating to student recruitment, attendance, completion, placement and defaults on loans, according to the company, as well as information about compliance with U.S. Department of Education financial requirements.

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