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.
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