PR Newswire: news distribution, targeting and monitoring
2014
See more news releases in Banking & Financial Services  | Legal Issues

Block & Leviton LLP Investigates ITT Educational Services, Inc. and Certain of Its Officers and Directors for Possible Violations of the Federal Securities Laws

Share with Twitter Share with LinkedIn

BOSTON, Feb. 28, 2013 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, is investigating possible securities law violations involving ITT Educational Services, Inc. ("ITT Educational" or the "Company") (NASDAQ:  ESI) following the Company's disclosure of an investigation being conducted by the Securities and Exchange Commission ("SEC") relating to the Company's involvement in private student-loan agreements.

More specifically, in January 2013, ITT Educational agreed to pay $46 million to SLM Corp. (US: SLM), the country's biggest student lender, commonly known as Sallie Mae, to settle a lawsuit stemming from a risk-sharing agreement on loans.  According to a filing with the SEC, the Company was made aware of the resulting investigation on February 8, 2013. A subpoena issued by the SEC has requested documents related to a 2009 loan risk-sharing agreement and its PEAKS Private Student Loan Program.

News of the SEC investigations shocked the market and the Company's stock price has fallen by more than 20% since the market closed on February 22, 2013 – the last trading day prior to the disclosure.  Based on the information to date, it appears that the Company's wrongdoing spanned from January 15, 2010 to February 22, 2013.

Block & Leviton's investigation seeks to determine, among other things, whether ITT Educational and its officers and directors have violated the federal securities laws.  If you have any information relevant to this investigation, or have questions about your legal rights, please contact Philip J. Marino of Block & Leviton LLP at (617) 398-5600 or email him at Philip@blockesq.com

Block & Leviton is a Boston-based law firm representing investors for violations of securities laws.  The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.

This notice may constitute attorney advertising.

Contact:

BLOCK & LEVITON LLP


Philip J. Marino, Esq.


(617) 398-5600


Philip@blockesq.com

 

SOURCE Block & Leviton LLP



RELATED LINKS
http://www.blockesq.com

Featured Video

Journalists and Bloggers

Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.

View and download archived video content distributed by MultiVu on The Digital Center.

Share with Twitter Share with LinkedIn
 

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

 
 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

 
 

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.

 

Online Member Center

Not a Member?
Click Here to Join
Login
Search News Releases
Advanced Search
Search
  1. PR Newswire Services
  2. Knowledge Center
  3. Browse News Releases
  4. Contact PR Newswire
  5. Send a News Release