September 6, 2011 - The court granted the defendants' motion to dismiss and dismissed the case.
April 15, 2011 - The defendants filed a motion to dismiss.

February 14, 2011 - The lead plaintiff filed an amended consolidated complaint on behalf of investors who purchased Lincoln Educational Services Corporation (NASDAQ: LINC) common shares between March 3, 2010 and August 4, 2010. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between March 3, 2010 and August 4, 2010.

November 24, 2010 - The lead plaintiff and lead counsel were appointed and all cases were consolidated.

October 15, 2010 - Lead plaintiff motions were filed.

August 13, 2010 - An investor in shares of Lincoln Educational Services Corporation (NASDAQ: LINC) filed a lawsuit in the U.S. District Court for the District of New Jersey against Lincoln Educational Services Corporation over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between March 3, 2010 and August 5, 2010.

Lincoln Educational Services Corporation reported increasing total revenue with the past four years. Lincoln Educational Services Corporation reported total revenue in 2006 of $310.63million, in 2007 $327.77milloin, in 2008 $376.91million, and in 2009 $552.54million. Its net income increased over the same period from $15.55million in 2006 to $49.24million in 2009. According to the complaint the plaintiff alleges on behalf of purchasers of the common stock of Lincoln Educational Services Corporation between March 3, 2010 and August 5, 2010, that Lincoln Educational Services and certain of its officers issued between March 3, 2010 and August 5, 2010, a series of materially false and misleading statements related to its business and operations in violation of the Securities Exchange Act of 1934.

On August 4, 2010, the Senate Health, Education, Labor, and Pensions Committee conducted a hearing on for-profit education firms, where Government Accountability Office representative, George Kutz, presented the findings of report GAO-10-948T, For-Profit Colleges: Undercover Testing Finds Colleges Encouraged Fraud in Deceptive and Questionable Marketing Practices. The report detailed undercover investigations into 15 for-profit schools that uncovered misconduct by school staff. According to this GAO study, the college personnel at schools owned by Education Management Corp. may have encouraged applicants to falsify their financial aid forms to qualify for federal aid and pressured applicants to sign a contract for enrollment prior to allowing them to speak to a financial advisor. Following these disclosures, so the lawsuit, shares of Lincoln Educational Services collapsed -- falling over $4.30, or 20% in a single trading day, on unusually high trading volume. Shares of Lincoln Educational Services Corporation (NASDAQ: LINC) traded recently at $11.16 per share, down from its 52weekHigh of $28.21 per share.

Lincoln Educational Services Corporation, located in West Orange, NJ, is a provider of career-oriented post-secondary education.