Investment Adviser Said to Urge Vote Against Career Education Corp.

An influential adviser to institutional investors has apparently come out in favor of a dissident group that is running its own slate of candidates to serve as directors of the Career Education Corporation. According to Reuters, Institutional Shareholder Services is telling its clients to vote for directors nominated by Steven Bostic, a fierce critic of the company, which has been beset with a series of accreditation problems, federal investigations, and lawsuits by shareholders, former employees, and students (The Chronicle, January 13 and April 19). The company’s annual meeting is scheduled for May 18.