San Diego, CA -- (SBWIRE) -- 04/24/2013 -- An investigation on behalf of long-term investors who currently hold NYSE:ESI shares was announced concerning whether certain directors and officers of ITT Educational Services, Inc. breached their fiduciary duties in connection with certain statements made between April 22, 2010 and February 25, 2013.

Investors who are current long term stockholders in ITT Educational Services, Inc. (NYSE:ESI) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in ITT Educational Services, Inc. (NYSE:ESI) stocks follows a lawsuit filed against ITT Educational Services, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in ITT Educational Services, Inc. (NYSE:ESI) stocks concerns whether certain ITT Educational Services officers and directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. U.S. District Court for the Southern District of New York the plaintiff alleges tha ITT Educational Services, Inc. violated the Securities Exchange Act of 1934. The plaintiff claims that the defendants issued between April 22, 2010 and February 25, 2013 materially false and misleading statements regarding ITT Educational Services' business and financial results in press releases, analyst conference calls and filings with the Securities and Exchange Commission (“SEC”), specifically with respect to the Company's compliance with relevant accounting standards when reporting its risk-sharing activities in loan programs.

The plaintiff says that as a result of defendants' statements, ITT Educational Services, Inc. (NYSE:ESI) stock traded at artificially inflated prices between April 22, 2010 and February 25, 2013, reaching a high of $112.69 per share on April 22, 2010.

Then on February 22, 2013, after the market closed, ITT Educational Services filed its annual report. ITT Educational Services disclosed that it was being investigated by SEC concerning the company’s involvement in some private student-loan agreement. ITT Educational Services said it received a subpoena from the SEC on February 8, 2013. The subpoena issued by the SEC requested documents related to a 2009 loan risk-sharing agreement and its PEAKS Private Student Loan Program.

Shares of ITT Educational Services, Inc. declined from $18.98 on Feb. 22, 2013, to $14.45 on Feb. 26, 2013 and continued to decrease to as low as $12.336 per share on March 4, 2013.

On April 23, 2013, NYSE:ESI closed at $15.07 per share, which is significantly below its current 52 week High of $67.95 per share.

Those who are current long term investors in ITT Educational Services, Inc. (NYSE:ESI) shares, have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com