October 28, 2005

Money & Management In Brief

ITT SETTLEMENT: ITT Educational Services Inc. is prepared to pay $725,000 to California to reimburse it for Cal Grants that were awarded to students erroneously after the company improperly calculated their grades, the company announced last week. The planned payment was disclosed in an ITT filing with the Securities and Exchange Commission, and is part of an agreement between ITT and the California attorney general's office, which has been investigating the company's operations since 2002.

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