Shareholders Foundation, Inc.

ITT Educational Services, Inc. (NYSE:ESI) Investor Notice: Deadline in Lawsuit on May 10 Coming Up

A Deadline is coming up on May 10, 2013 in the lawsuit for investors in ITT Educational Services, Inc. (NYSE:ESI) and NYSE:ESI stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 

San Diego, CA -- (SBWIRE) -- 05/01/2013 -- A deadline is coming up on May 10, 2013 in the lawsuit filed for investors of ITT Educational Services, Inc. (NYSE:ESI) over alleged securities laws violations by ITT Educational Services in connection with certain allegedly false and misleading statements.

Investors with a substantial investment in ITT Educational Services, Inc. (NYSE:ESI) shares between April 22, 2010 and February 25, 2013, should get active before the Deadline that is coming up on May 10, 2013, and 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 Southern District of New York the plaintiff alleges on behalf of purchasers of ITT Educational Services, Inc. (NYSE:ESI) common stock during the period between April 22, 2010 and February 25, 2013, that ITT Educational Services, Inc. and certain of its officers and directors 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. (NYSE:ESI) declined from $18.98 on Feb. 22, 2013, to as low as $12.01 per share on April 8, 2013.

On April 30, 2013, NYSE:ESI closed at $18.31, which is significantly below its current 52 week High of $67.95 per share.

Those who purchased shares of ITT Educational Services, Inc. (NYSE:ESI) 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