WAYNE, Pa., Dec. 10, 2012 /PRNewswire/ -- Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/uti) has commenced an investigation into potential securities law violations by certain officers of Universal Technical Institute, Inc. ("UTI" or the "Company") (NYSE: UTI). The investigation focuses on allegations that certain statements issued by the Company regarding the Company's business, operations and financial condition were false and misleading.
UTI shareholders should contact Richard A. Maniskas, Esquire at 877-316-3218 or at [email protected] to learn more about this investigation.
UTI provides postsecondary education -- including undergraduate degree, diploma and certificate programs for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians -- through its campuses in the United States. The investigation is related to allegations that certain statements issued by UTI were false and misleading concerning the Company's business and operations.
On November 28, 2012 UTI announced that in September it received a Civil Investigative Demand from the Massachusetts Attorney General relating to the pending investigation of a false claims allegation related to student loans, guarantees, and grants. Particularly, the government action relates to allegations that UTI caused false claims to be submitted to Massachusetts relating to student loans, guarantees and grants provided to students at the UTI's Norwood, Massachusetts campus. This adverse information caused UTI's stock fall 28% on November 28, 2012.
If you purchased UTI shares and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free: (877) 316-3218 or visit: www.rmclasslaw.com/cases/uti. You may also email Mr. Maniskas at [email protected]. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
SOURCE Ryan & Maniskas, LLP