NEW YORK, July 21, 2016 /PRNewswire/ -- Bernstein Liebhard LLP is investigating whether the Board of Directors of DeVry Education Group ("DeVry" or the "Company") (NYSE: DV) breached their fiduciary duties to the Company.
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.
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