Law Offices of Todd M. Garber Announces Class Action Lawsuit Against ITT Educational Services, Inc.
The Law Offices of Todd M. Garber announces that a class action lawsuit
has been filed in the United States District Court for the Southern
District of New York on behalf of all purchasers of the common stock of
ITT Educational Services, Inc. (“ITT” or the “Company”) (NYSE:ESI)
between April 22, 2010 and February 25, 2013, inclusive (the “Class
ITT provides postsecondary degree programs in the United States. The
Complaint alleges that during the Class Period, the Company and certain
of its officers and directors violated the federal securities laws by
making false and misleading statements. On February 22, 2013, ITT
announced that the SEC was investigating the Company’s involvement in
certain private student-loan agreements. According to ITT, the Company
had received a subpoena from the SEC on February 8, 2013, along with a
letter informing the Company of the investigation. The subpoena issued
by the SEC requested documents related to a 2009 loan risk-sharing
agreement and ITT’s PEAKS Private Student Loan Program. As a result of
this news, ITT’s stock declined $3.10 per share, or nearly 17%, to close
on February 25, 2013, at $15.53 per share, on unusually heavy volume.
If you purchased ITT securities between April 22, 2010 and February 25,
2013, if you have information or would like to learn more about these
claims, or if you wish to discuss these matters or have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Todd M. Garber, of the Law Offices of Todd
M. Garber, by telephone at 213-700-7262 or by email to firstname.lastname@example.org.
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