July 28, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Universal Technical Institute, Inc. (NYSE:UTI) shares over potential securities laws violations by Universal Technical Institute and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Universal Technical Institute, Inc. (NYSE:UTI) concerning whether a series of statements by Universal Technical Institute regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Shares of Universal Technical Institute, Inc. (NYSE:UTI) traded as high as $22.11 per share in late 2010. Universal Technical Institute, Inc. reported that its Total Revenue declined from $451.90 million for the 12 months period that ended on September 30, 2011 to $378.39 million for the 12 months period that ended on September 30, 2014 and that its respective Net Income decreased from $26.90 million to $2.04 million.


On July 24, 2015, Universal Technical Institute reported in a SEC filing it had received a subpoena from the U.S. Attorney's Office for the Western District of North Carolina. The subpoena covers a broad range of matters relating to the Company's Mooresville, North Carolina campus operations over the past several years. The U.S. Attorney also seeks documents and information relating to the Company's compliance with the '90/10 rule,' and other Company programs and practices. Shares of Universal Technical Institute, Inc. (NYSE:UTI) declined from $8.00 per share on July 23, 2015, to as low as $5.68 per share on July 24, 2015.