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If you purchased shares of Career Education Corporation (NASDAQ: CECO), you might have certain options and should contact the Shareholders Foundation, Inc
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
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May 1, 2014 - The court approved the motion for attorney's fees and expenses.
April 16, 2014 – The court approved the settlement and entered the orders approving the plan of allocation and dismissed the action with prejudice.
November 6, 2013 - The court preliminarily approved the settlement.
November 4, 2013 - Parties filed a stipulation of settlement.
October 30, 2012 - The court granted the defendants motion to dismiss against a defendant but otherwise denied defendants' motion to dismiss.
June 4, 2012 - The defendants filed a motion to dismiss.
May 3, 2012 - The lead plaintiffs filed an amended consolidated complaint on behalf of investors who purchased Career Education Corporation (NASDAQ: CECO) common stock between February 19, 2009 and November 21, 2011. The lead plaintiffs allege that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between February 19, 2009 and November 21, 2011.
March 23, 2012 - The lead plaintiffs and lead counsel were appointed and all cases were consolidated.
March 13, 2012 - Lead plaintiff motions were filed.
January 13, 2012 - An investor in shares of Career Education Corporation (NASDAQ: CECO) filed a lawsuit in U.S. District Court for the Northern District of Illinois against Career Education Corporation over alleged violations of Federal Securities Laws.
According to the complaint the plaintiff alleges on behalf of purchasers of Career Education Corporation (NASDAQ: CECO) shares during the period between January 1, 2009 and November 1, 2011, that Career Education Corporation and certain of its officers and directors violated Securities Exchange Act of 1934 by allegedly issued materially false and misleading statements regarding its business and prospects.
On May 17, 2011, Career Education Corporation announced that it had received a subpoena from the Attorney General of the State of New York. The subpoena requested documents pertaining to student employment outcomes and Placement Rates of graduates among other items in connection with the Attorney General of the State of New York's investigation into whether Career Education Corporation and certain of its schools complied with certain New York state consumer protection, securities, finance and other laws.
Then on November 1, 2011 Career Education Corporation announced that its Board of Directors has accepted the resignation of Gary E. McCullough as President, Chief Executive Officer and Board member.
Shares of Career Education Corporation fell from as high as $17.76 on October 24, 2011 to $7.37 on November 3, 2011 and closed as low as $6.32 per share On December 20, 2011.