The company that owns the all-online Capella University announced on Tuesday that it would delay a planned sale of stock by the company and several of its major shareholders until after it responds to a conflict-of-interest investigation by the New York attorney general involving the university’s director of financial aid and student-loan companies.

The Capella Education Company said it expects to complete its response by the week of April 23.

Capella University’s director of financial aid, Timothy Lehmann, is reported to have received consulting fees and other payments from Student Loan XPress, which is one of 15 lenders on Capella’s preferred-lender list. He also serves on the loan company’s advisory board. Capella announced last week that he had been placed on leave.

The company, which went public in November, announced in March that it would sell an additional 500,000 shares, and the shareholders would offer about 2.6 million shares. —Goldie Blumenstyk