Corinthian Colleges, Inc. Under Investor Investigation

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Company Name(s):

Corinthian Colleges

Affected Securities:

NASDAQ: COCO

An investigation on behalf of investors in Corinthian Colleges, Inc. (NASDAQ:COCO) concerning possible federal securities laws by issuing false and misleading statements to its shareholders was announced.

Corinthian Colleges, Inc., Santa Ana, California, is a post-secondary education company in the United States and Canada. On August 4, 2010, the Senate Health, Education, Labor, and Pensions Committee conducted a hearing on for-profit education firms, where Government Accountability Office representative, George Kutz, presented the findings of report GAO-10-948T, "For-Profit Colleges: Undercover Testing Finds Colleges Encouraged Fraud in Deceptive and Questionable Marketing Practices." The report detailed undercover investigations into 15 for-profit schools that uncovered misconduct by school staff. According to this GAO study, the college personnel at schools may have encouraged applicants to falsify their financial aid forms to qualify for federal aid and pressured applicants to sign a contract for enrollment prior to allowing them to speak to a financial advisor.

Corinthian Colleges, Inc. reported on June 30, 2006 for the past 12 months Total Revenue of $907.82million, on June 30, 2007 Total Revenue of $919.22million, on June 30, 2008, Total Revenue of $1.068.67billion, and on June 30, 2009, Total Revenue of $1.30783billion. Its Net Income went during the same time frame from $42.48million to $68.76million.

The investigation by a law firm on behalf of investors in COCO shares concerns whether also Corinthian Colleges, Inc. has violated federal securities laws by issuing false and misleading statements to its shareholder in connection with the report by the U. S. Government Accountability Office.

Shares of Corinthian Colleges, Inc. (NASDAQ:COCO) traded recently as los a $5. per share. COCO shares declined from over $7 per share on Friday 13, 2010 to under $5 per share on Monday, August 16, 2010.COCO shares traded above $18 per share as recent as April and March 2010, and are down from its current 52weekHigh of $20.29 per share.