Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against ITT Educational Services, Inc.

Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against ITT Educational Services, Inc.

LOS ANGELES--(BUSINESS WIRE)-- The Law Offices of Todd M. Garber announces that shareholders of ITT Educational Services, Inc. (“ITT” or the “Company”) (NYSE: ESI  ) have until May 10, 2013 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the Southern District of New York. The lawsuit was filed on behalf of a class (the “Class”) comprising all purchasers of ITT common stock between April 22, 2010 and February 25, 2013, inclusive (the “Class Period”).

ITT provides postsecondary degree programs in the United States. The Complaint alleges that during the Class Period the Company and certain of its officers and directors violated federal securities laws by issuing false and misleading statements. On February 22, 2013 ITT announced that the Securities and Exchange Commission was investigating the Company’s involvement in certain private student-loan agreements. According to ITT, the Company had received a subpoena from the SEC on February 8, 2013, along with a letter informing the Company of the investigation. The subpoena issued by the SEC requested documents related to a 2009 loan risk sharing agreement and ITT’s PEAKS Private Student Loan Program. As a result of this news, ITT stock declined $3.10 per share, or nearly 17%, to close on February 25, 2013 at $15.53 per share on unusually heavy volume.

If you are a member of the above-described Class, you may move the Court no later than May 10, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time. You may retain counsel of your choice or take no action and remain an absent Class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to info@toddgarberlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.



Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California
213-700-7262
info@toddgarberlaw.com

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2349432, ~/Articles/ArticleHandler.aspx, 4/20/2014 7:41:26 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...