Pomerantz LLP Announces Proposed Class-Action Settlement on Behalf of Purchasers of Corinthian Colleges, Inc. Common Stock

NEW YORK, July 18, 2016 /PRNewswire/ -- The following statement is being issued by POMERANTZ LLP regarding the Corinthian Colleges, Inc. Securities Litigation.

TO: All persons or entities who purchased or otherwise acquired the common stock of Corinthian Colleges, Inc. between August 23, 2010 and April 14, 2015.

A Settlement Hearing shall be held before the Honorable George H. King of the Central District of California on October 31, 2016 at 9:30 a.m. in the Edward R. Roybal Federal Building and United States Courthouse, 255 East Temple Street, Courtroom 650, Los Angeles, CA 90012, in the action captioned Erickson v. Corinthian Colleges, Inc. et al., No. 2:13-cv-07466-GHK (PJWx) (the "Action"). At the Settlement Hearing, the Court will consider whether: (1) to permanently certify a class, for settlement purposes only, of all persons or entities who purchased or otherwise acquired the common stock of Corinthian Colleges, Inc. ("Corinthian") between August 23, 2010 and April 14, 2015, both dates inclusive (the "Class Period"); (2) to approve as fair, reasonable, and adequate the proposed settlement of the Action in exchange for $3.5 million; (3) to dismiss with prejudice the Action and to enter judgment releasing the Settled Claims against the Defendants and Released Parties; and (4) to approve Lead Counsel's applications for the payment of attorneys' fees and costs, reimbursement of Claims Administrator costs, and a service award for the Lead Plaintiff.

If you purchased or otherwise acquired Corinthian common stock during the Class Period, you will be bound by the Settlement unless you send a letter stating that you "request exclusion from the Class in the Corinthian Colleges, Inc. Securities Litigation," postmarked by September 16, 2016, to: Corinthian Colleges, Inc. Securities Litigation, c/o Garden City Group, LLC, P.O. Box 10274, Dublin, OH 43017-5774.

If you are a Class Member and do not exclude yourself, you can object to the Settlement by filing a signed letter with the Court saying that you object to the proposed Settlement in the Corinthian Colleges, Inc. Securities Litigation. Your objection must be filed with the Court and mailed to Lead Counsel and Defendants' Counsel, at the addresses set forth below, no later than September 16, 2016:

LEAD COUNSEL

Jeremy A. Lieberman
POMERANTZ LLP
600 Third Avenue
20th Floor
New York, NY 10016

DEFENDANTS' COUNSEL

John W. Spiegel
Munger Tolles & Olson LLP
355 South Grand Avenue
35th Floor
Los Angeles, CA 90071

Any objection must include: (1) your name, address, telephone number, and signature; (2) proof of ownership of Corinthian common stock and membership in the Class; (3) a detailed statement of your objections to any matters before the Court; (4) a written notice of your intention to appear at the hearing (if you intend to appear); and (5) all documents or writings you wish the Court to consider.

For copies of the complete settlement documents, please visit the Claims Administrator's website at www.CorinthianSecuritiesLitigation.com or contact the Claims Administrator toll-free at 1-855-907-3149.

Any questions regarding the Settlement should be directed to Lead Counsel. Please do not contact the Court or the Clerk's Office or Defendants' Counsel regarding this Notice.

Dated: July 18, 2016

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA

Contact: Robert Willoughby, Pomerantz LLP, 212-661-1100

SOURCE Pomerantz LLP