Ryan & Maniskas, LLP Announces Class Action Lawsuit Against ITT Educational
WAYNE, Pa., April 3, 2013
WAYNE, Pa., April 3, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP
(www.rmclasslaw.com/cases/esi) 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").
For more information regarding this class action suit, please contact Ryan &
Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by
email at email@example.com or visit: www.rmclasslaw.com/cases/esi.
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 class, you may, no later than May 10, 2013, request
that the Court appoint you as lead plaintiff of the class. A lead plaintiff
is a representative party that acts on behalf of other class members in
directing the litigation. In order to be appointed lead plaintiff, the Court
must determine that the class member's claim is typical of the claims of other
class members, and that the class member will adequately represent the class.
Under certain circumstances, one or more class members may together serve as
"lead plaintiff." Your ability to share in any recovery is not, however,
affected by the decision whether or not to serve as a lead plaintiff. You may
retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your
counsel in this action.
For more information about the case or to participate online, please visit:
www.rmclasslaw.com/cases/esi or contact Richard A. Maniskas, Esquire toll-free
at (877) 316-3218, or by e-mail at firstname.lastname@example.org. For more
information about class action cases in general or to learn more about Ryan &
Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan &
Maniskas, LLP is devoted to protecting the interests of individual and
institutional investors in shareholder actions in state and federal courts
CONTACT: Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
995 Old Eagle School Rd., Suite 311
Wayne, PA 19087
SOURCE Ryan & Maniskas, LLP
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