San Diego, CA -- (SBWIRE) -- 02/28/2012 -- A deadline is coming up on March 12, 2012 in the lawsuit filed for certain investors in NASDAQ: CECO over alleged False and Misleading Statements by Career Education Corp.
Investors with a substantial investment in Career Education Corp. (NASDAQ: CECO) between January 1, 2009 and November 1, 2011 should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Northern District of Illinois the plaintiff alleges on behalf of purchasers of Career Education Corp. (NASDAQ: CECO) that Career Education 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.
Career Education Corp. is also being investigated by the Attorneys General of New York and Florida in connection its business practices.
Career Education Corp said that it recently discovered these practices in preparing its response to the previously disclosed subpoena issued to the company by the New York Attorney General on May 17, 2011.
On November 1, 2011 Career Education 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 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.
Those who purchased shares of Career Education Corp. (NASDAQ: CECO) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego