July 2, 2004
Shareholders and SEC Eye Career Education
An amended lawsuit filed by a shareholder against the Career Education Corporation in June details allegations that the proprietary-college company systematically manipulated its student records and financial statements to inflate its stock price.
The 67-page complaint, filed in U.S. District Court in Chicago, is based on information from interviews with 13 former Career Education employees at multiple locations. The Illinois-based company operates 80 campuses in the United States and
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