NEW YORK, Jan. 29, 2016 /PRNewswire/ -- Wolf Popper LLP is investigating potential securities fraud claims on behalf of investors in DeVry Education Group, Inc. securities (NYSE: DV). DeVry investors can contact Fei-Lu Qian at 877.370.7703 or firstname.lastname@example.org for more information.
On January 27, 2016, the U.S. Federal Trade Commission filed a lawsuit against DeVry and DeVry University ("DVU"), accusing them of making "deceptive representations about the benefits of obtaining a degree from" DVU. Specifically, the FTC has accused DeVry and DVU of deceptive practices by representing that 90% of DVU graduates "who were actively seeking employment landed or obtained new jobs in their field of study within six months of graduation." However, the FTC found that a "significant percentage of the jobs that Defendants count as being in the graduate's field of study include jobs that employers, industry experts, graduates, and consumers would not reasonably consider to be in the graduate's field of study." Thus, the "actual percentage of DVU graduates who, at or near the time they graduated, found jobs that could be reasonably considered 'in their field' is significantly smaller than 90%."
On the news of the FTC lawsuit, DeVry common stock declined $3.65 per share or over 15%, to close at $20.09 per share on January 27, 2016.
Wolf Popper LLP has extensive experience representing shareholders in securities class actions and has successfully recovered billions of dollars for defrauded investors. The reputation and expertise of the firm in representing shareholders has been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. See www.wolfpopper.com
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