The settlement includes all persons and entities who purchased or otherwise acquired ITT Educational Services Inc (NYSE: ESI) common stock, who purchased or otherwise acquired call options on ITT Educational Services Inc (NYSE: ESI) common stock, or who wrote put options on ITT Educational Services Inc (NYSE: ESI) common stock, between February 26, 2013 and May 12, 2015.

March 24, 2016 - The court approved the settlement, the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.

March 10, 2016 - The court held a final settlement hearing.

November 4, 2015 - The court preliminarily approved the settlement.

November 2, 2015 - Parties filed a stipulation of settlement.

May 26, 2015 - The lead plaintiff filed an amended consolidated complaint.

March 16, 2015 - Lead plaintiff and lead counsel were appointed.

December 1, 2014 - Lead plaintiff motions were filed.

October 3, 2014 - An investor in shares of ITT Educational Services Inc (NYSE: ESI) filed a lawsuit in the U.S. District Court for the Southern District of Indiana against ITT Educational Services Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between April 26, 2013 and September 19, 2014.

According to the complaint the plaintiff alleges on behalf of purchasers of ITT Educational Services, Inc. (NYSE:ESI) common shares between April 26, 2013 and September 19, 2014, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that Defendants made allegedly false and misleading statements and failed to disclose that ITT Educational Services Inc’s financial statements contained errors related to the accounting of the PEAKS Trust and PEAKS Program, and that ITT Educational Services Inc lacked adequate internal controls over financial reporting.

On May 22, 2014, ITT Educational Services Inc announced that it was withdrawing its 2014 financial forecast and investors should no longer rely upon it due to uncertainties surrounding the accounting of its PEAKS private student loan program.

On June 24, 2014, ITT Educational Services announced in a Securities and Exchange Commission, (SEC) Form 8-K filing, that the Company should have consolidated the financial results of the PEAKS Trust in the Company's consolidated financial statements beginning on February 28, 2013, the Company's Audit Committee concluded that the Company will need to restate the unaudited financial statements in its Quarterly Reports on Form 10-Q for each of the fiscal quarters ended March 31, 2013, June 30, 2013 and September 30, 2013, and that those previously-issued financial statements should no longer be relied upon. Further, the preliminary financial information included in the Company's press releases issued on January 30, 2014 and May 22, 2014, and provided during the conference calls on those same days, should no longer be relied upon.

On August 1, 2014, ITT Educational Services Inc disclosed that on July 29, 2014, it received a notice of termination of the Agreement for Purchase and Sale of Real Estate from College Portfolio Buyer LLC. ITT Educational Services, Inc said the potential buyer, College Portfolio Buyer LLC, dropped out of the deal to sell some of the properties after ITT Educational Services Inc refused to extend a due diligence period. On August 4, 2014, ITT Educational Services Inc announced that Kevin M. Modany notified the Board of Directors of the Company that he intended to resign as Chief Executive Officer of the Company, effective February 4, 2015.

Then on September 19, 2014, ITT Educational Services Inc. (NYSE: ESI) disclosed that on August 7, 2014, it received a notice from the staff of the Division of Enforcement (the “Staff”) of the SEC, notifying the Company that the Staff had made a preliminary determination to recommend that the SEC file an enforcement action against the Company. Shares of ITT Educational Services Inc (NYSE: ESI) declined from over $45 per share in January 2014 to as low as $4.07 per share on September 25, 2014.

On October 3, 2014, NYSE: ESI shares closed at $4.41 per share.