Last $0.26 USD
Change Today -0.0098 / -3.63%
Volume 5.0K
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As of 8:10 PM 02/26/15 All times are local (Market data is delayed by at least 15 minutes).

education management corp (EDMC) Snapshot

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02/27/14 - $6.13
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education management corp (EDMC) Details

Education Management Corporation provides post-secondary education in North America. The company offers academic programs to students through campus-based and online instruction to earn undergraduate and graduate degrees, including doctoral degrees and specialized non-degree diplomas in a range of disciplines. It operates through four segments: The Art Institutes, Argosy University, Brown Mackie Colleges, and South University. The Art Institutes segment offers associate’s, bachelor’s, and master’s degree programs, as well as selective non-degree diploma programs in creative professions, such as graphic design, media arts and animation, culinary arts, photography, digital filmmaking and video production, interior design, audio production, fashion design, game art and design, baking and pastry, and fashion marketing. The Argosy University segment provides doctoral, master’s, and undergraduate degree academic programs in psychology and behavioral sciences, business, legal, education, and health sciences disciplines. The Brown Mackie Colleges segment offers associate’s and non-degree diploma programs in fields that comprise medical assisting, business, criminal justice, occupational therapy assistant, healthcare administration, and veterinary technology. The South University segment provides doctoral, master’s, bachelor’s, and associate’s degree academic programs in health profession and business disciplines, including business administration, health sciences, nursing, criminal justice, psychology, information technology, and healthcare management. The company operates 110 school locations. Education Management Corporation was founded in 1962 and is headquartered in Pittsburgh, Pennsylvania.

11,000 Employees
Last Reported Date: 10/31/14
Founded in 1962

education management corp (EDMC) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $709.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $500.0K
President of Brown Mackie Colleges
Total Annual Compensation: $450.0K
Chief Legal, Privacy, Security & Administrati...
Total Annual Compensation: $1.1M
Chief Compliance Officer and Senior Vice Pres...
Total Annual Compensation: $637.5K
Compensation as of Fiscal Year 2014.

education management corp (EDMC) Key Developments

Education Management Corporation Lays Off More Than 200 Workers Through All Campuses

Education Management Corp. has laid off 225 people, both faculty and staff. The cuts were spread among the company's 53 Art Institute campuses. Fewer than 10 people were laid off at the school's Boulevard of the Allies campus.

Federal Judge Denies Injunction in Education Management Corp. Debt Restructuring Case

A federal judge has denied an injunction sought by two hedge funds against Education Management Corp.'s debt restructuring plan. The request was filed by Magnolia Road Capital and Marblegate Asset Management, which say they own $20 million of EDMC's debt. Education Management Corp. announced Aug. 27 it had reached an agreement with its creditors to restructure its debt. The agreement will exchange EDMC's current debt for preferred equity interests, reducing its $1.5 billion in debt to about $400 million. The deal leaves EDMC shareholders with about 4% of its outstanding common stock and the potential to buy another 5%. This compares to the 100% Shareholders own. One aspect of the lawsuit that has not been settled is whether EDMC violated federal law under the Trust Indenture Act. The court concluded on a preliminary basis that Magnolia Road Capital and Marblegate Asset Management are likely to succeed on this claim.

Levi & Korsinsky, LLP Reminds Investors of Class Action against Education Management Corporation and its Board of Directors

Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the Western District of Pennsylvania on behalf of investors who purchased Education Management Corporation common stock between August 8, 2012 and September 16, 2014. The complaint alleges that throughout the Class Period the Company violated federal securities laws by failing to adequately disclose that the Company was overstating revenue by properly increasing its bad debt reserve upon student withdrawal, it was overstating its goodwill, it was manipulating federal student loan and grant programs in order to appear to be in compliance with federal regulations enacted in June 2011 and otherwise engaged in improper recruiting and enrollment practices.


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