March 12, 2004
ITT Educational Services Is Sued for Fraud and Searched by Federal Agents
A class-action lawsuit filed against ITT Educational Services last month accuses the company of issuing "materially false and misleading" quarterly reports that defrauded investors.
The complaint, seeking unspecified damages, was filed in U.S. District Court for the Southern District of Indiana, in Indianapolis, by the law firm Milberg Weiss Bershad Hynes & Lerach, which specializes in securities litigation.
The suit accuses the for-profit higher-education provider of
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