Career Education Under Inquiry From 12 Attorneys General

Career Education Corp. (CECO), an operator of for-profit colleges, said it received inquiries from 12 state attorneys general regarding its business practices.

The inquiries relate to student recruitment, lending, graduate placement statistics and certification, the Schaumburg, Illinois-based company said today in a regulatory filing. The company said it is cooperating with the states involved.

Career Education fell 5.8 percent to $5.72 in New York. The shares have climbed 63 percent in the last year.

Career Education is one of several for-profit education companies under investigation for marketing and recruitment practices. Corinthian Colleges Inc. and ITT Educational Services Inc. also said today that they received subpoenas or inquiries from a variety of states.

To contact the reporter on this story: Oliver Staley in London at ostaley@bloomberg.net

To contact the editor responsible for this story: Lisa Wolfson at lwolfson@bloomberg.net

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