NEW YORK, May 16, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of DeVry Education Group, Inc. ("DeVry" or the "Company") (NYSE: DV). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether DeVry and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On January 27, 2016, the Federal Trade Commission filed suit against DeVry and its subsidiary DeVry University, accusing them of deceptively advertising the benefits of obtaining a bachelor's degree at DeVry University. That same day, the U.S. Department of Education issued DeVry University a Notice of Intent to limit its access to certain federal funding after determining that unsubstantiated representations in DeVry's marketing and promotional materials constituted violations of federal law.
On these disclosures, DeVry stock fell $3.65 per share, or 15%, to close at $20.09 on January 27, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP