ITT Educational Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Possible Breaches of

  ITT Educational Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP
  Announce Investigation of Possible Breaches of Fiduciary Duty

Business Wire

DALLAS -- March 21, 2013

Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation
firm of Powers Taylor, LLP announce that the firms are investigating legal
claims against the officers and Board of Directors of ITT Educational
Services, Inc. (“ITT Educational” or “Company”) (NYSE: ESI) related to
potential securities violations between April 22, 2010 and February 25, 2013
(the “Class Period”).

If you are an affected investor and you want to learn more about the lawsuit
or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC,
(214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zachary
Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
zach@powerstaylor.com. There is no cost or fee to you.

In a recently filed federal class action complaint, ITT Educational and
certain of its officers and directors were charged with violating certain
provisions of the Securities Exchange Act of 1934. Specifically, the complaint
alleges that defendants misrepresented and/or failed to disclose that: (a) ITT
Educational failed to properly account for the 2009 loan risk-sharing
agreement and its PEAKS Program; and (b) Proper internal controls were not
maintained in order to confirm that risk-sharing agreements were properly
recorded. Additionally, the complaint alleges that after the market found out
about the above disclosures the stock dropped substantially.

“Recent revelations about alleged improper business practices and procedures
regarding key aspects of ITT Educational business and other misleading
financial statements have prompted the firms to investigate possible breaches
of fiduciary duties and other violations of state law by ITT Educational
officers and directors. Based on our investigation, we are prepared to pursue
litigation to preserve the company and the value of ITT Educational stock for
all shareholders,” said shareholder rights attorney Patrick Powers.

The Briscoe Law Firm, PLLC is a full service business litigation, commercial
transaction, and public advocacy firm with more than 20 years of experience in
complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of
complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits, and
security class actions.

Contact:

The Briscoe Law Firm, PLLC
Willie Briscoe, 214-239-4568
WBriscoe@TheBriscoeLawFirm.com
or
Powers Taylor, LLP
Zachary Groover, 877-728-9607
zach@powerstaylor.com
 
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