Law Offices of Howard G. Smith Announces Class Action Lawsuit Against ITT Educational Services, Inc.

  Law Offices of Howard G. Smith Announces Class Action Lawsuit Against ITT
  Educational Services, Inc.

Business Wire

BENSALEM, Pa. -- March 25, 2013

Law Offices of Howard G. Smith announces that a class action lawsuit has been
filed in the United States District Court for the Southern District of New
York on behalf of all purchasers of the common stock of ITT Educational
Services, Inc. (“ITT” or the “Company”) (NYSE:ESI) 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.

No class has yet been certified in this action. Until a class is certified,
you are not represented by counsel unless you retain one. If you purchased ITT
common stock during the Class Period, you have certain rights, and have until
May 10, 2013 to move for lead plaintiff status. To be a member of the class
you need not take any action at this time, and you may retain counsel of your
choice. 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, Toll Free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.

Contact:

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
 
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