|[March 13, 2013]
Glancy Binkow & Goldberg LLP Announces Investigation on Behalf of Shareholders of ITT Educational Services, Inc.
LOS ANGELES --(Business Wire)--
Glancy Binkow & Goldberg LLP announces that it is investigating
potential claims against ITT (News - Alert) Educational Services, Inc. ("ITT" or the
"Company") (NYSE:ESI) concerning possible violations of federal
securities laws. The investigation focuses on allegations that certain
statements issued by the Company between April 22, 2010 and February 25,
2013 regarding ITT's business, operations, and prospects were false and
ITT provides postsecondary degree programs in the United States. The
investigation relates to ITT's February 22, 2013 announcement that the
SEC (News - Alert) was investigating ITT's involvement in certain private student-loan
agreements. According to the Company, ITT had received a subpoena from
the SEC on February 8, 201, along with a letter informing the Company
of the investigation. The subpoena issued by the SEC requested documents
related to a 2009 loan risk-sharing agreement and ITT's PEAKS Private
Student Loan Program. As a result of this news, ITT's stock declined
$3.10 per share, or nearly 17%, to close on February 25, 2013, at $15.53
per share, on unusually heavy volume.
If you purchased ITT securities between April 22, 2010 and February 25,
2013, if you have information or would like to learn more about these
claims, or if you wish to discuss these matters or have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Michael Goldberg, Esquire, of Glancy
Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles,
California 90067, by telephone at (310) 201-9150 or Toll Free at (888)
773-9224, by e-mail to email@example.com,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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