On January 27, 2016, the Federal Trade Commission ("FTC") filed a complaint against DeVry, DeVry University, and DeVry/New York Inc. alleging that starting in 2008 and continuing until August 2015, the Company made deceptive representations about the benefits of obtaining a degree from DeVry. In particular, the FTC complaint focuses on two claims made by DeVry: (a) 90% of DeVry students who are actively seeking employment obtained new jobs in their field of study within 6 months of graduation; and (b) one year after graduation, the average or median earnings of DeVry graduates with bachelor's degrees were 15% higher than those of similar graduates. The FTC seeks, among other things, refunds of monies paid and disgorgement of ill-gotten gains, the total of which could exceed a staggering $8 billion.
If you are interested in discussing your rights as a DeVry shareholder, and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or email@example.com.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3.5 billion for its clients. The Firm has been named to the National Law Journal's "Plaintiffs' Hot List" thirteen times.
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SOURCE Bernstein Liebhard LLP