Graham Holdings Company (NYSE:GHC)
Historical Stock Chart
5 Years : From May 2012 to May 2017
Washington Post Co.'s (WPO) Kaplan Higher Education is being investigated by the Illinois Attorney General, adding to a growing list of for-profit colleges being scrutinized at the state level.
According to a securities filing Wednesday, the company received a Civil Investigative Demand from the state on Feb. 7. Post Co. said the demand "primarily" seeks information on Illinois residents who attend Kaplan University's online program. The company said it is reviewing the demand and intends to cooperate, but cannot yet predict the outcome of the inquiry.
A Kaplan representative declined further comment.
Kaplan also was named in an investigation by Florida's Attorney General in October. That probe sought information from six for-profit schools--five publicly traded--on potential misrepresentations in financial aid, recruitment and other areas.
Washington Post said in the securities filing that Kaplan has been in discussions with that state regarding the subpoena and determining a "reasonable time frame" by which it must hand over information.
Meanwhile, Bridgepoint Education Inc. (BPI) said in a securities filing last month that the Iowa Attorney General is looking into its Ashford University, and in December, the Kentucky attorney general launched a probe into six unnamed for-profit schools in that state.
-By Melissa Korn, Dow Jones Newswires; 212-416-2271; firstname.lastname@example.org