SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses in Excess
of $100,000 From Investment in Corinthian Colleges, Inc. to Contact Brower
Piven Before the August 19, 2013 Lead Plaintiff Deadline -- COCO
STEVENSON, Md., June 24, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional
Corporation announces that a class action lawsuit has been commenced in the
United States District Court for the Southern District of New York on behalf
of purchasers of Corinthian Colleges, Inc. ("Corinthian" or the "Company")
(Nasdaq:COCO) securities during the period between August 23, 2011 and June
10, 2013, inclusive (the "Class Period").
If you have suffered a net loss from investment in Corinthian Colleges, Inc.
securities purchased on or after August 23, 2011, and held through any of the
revelations of negative information on July 30, 2012, and/or June 10, 2013, as
described below, you may obtain additional information about this lawsuit and
your ability to become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at firstname.lastname@example.org, by calling
410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley
Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined
experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will
be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply
to be appointed lead plaintiff no later than August 19, 2013 and be selected
by the Court. The lead plaintiff will direct the litigation and participate in
important decisions including whether to accept a settlement and how much of a
settlement to accept for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from investment in
the Company during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange
Act of 1934 by virtue of the defendants' failure to disclose during the Class
Period that defendants' predatory and deceptive recruiting and enrollment
practices, including systemic grade falsification at the Company's campuses,
violated federal regulations enacted in June 2011. According to the complaint,
following the July 30, 2012 publication of the Harkin Report, a two-year
investigation of the for-profit college industry, which contained troubling
statistics and findings and which specifically mentioned Corinthian and the
Company's June 10, 2013 disclosure that the U.S. Securities and Exchange
Commission was conducting an investigation of the Company and had requested
documents related to student recruitment, attendance, completion, placement,
defaults on loans, and other corporate and financial matters, the value of
Corinthian shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your choice. You
need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
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