Holzer Holzer & Fistel, LLC Announces Investigation into Potential Claims for Breaches of Fiduciary Duty by Certain Officers ...
January 18 2012 - 11:35AM
Business Wire
Holzer Holzer & Fistel, LLC announces that it is
investigating potential breaches of fiduciary duty by certain
officers and directors of Career Education Corporation (“Career
Education” or the “Company”) (NASDAQ: CECO). On January 13, 2011,
an investor filed a class action lawsuit in the Northern District
of Illinois alleging that Career Education violated the federal
securities laws between January 1, 2009 and November 1, 2011 (the
“Class Period”). The lawsuit alleges, among other things, that
during the Class Period the Company misrepresented certain
information regarding retention and employment rates of students
following graduation from CECO programs. According to the lawsuit,
Career Education lacked adequate internal controls needed to
accurately determine its true placement rates.
Holzer Holzer & Fistel, LLC’s investigation seeks to
determine if the allegations contained in the class action
complaint also give rise to separate claims for breaches of
fiduciary duty.
If you have continuously held shares since at least January 1,
2009, and plan to continue to hold at least some shares of Career
Education, and would like to discuss your legal rights, you may
contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via
email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via
toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm
that dedicates its practice to vigorous representation of
shareholders and investors in litigation nationwide, including
shareholder class action and derivative litigation. More
information about the firm is available through its website,
www.holzerlaw.com and upon request from the firm. Holzer Holzer
& Fistel, LLC has paid for the dissemination of this
promotional communication, and Michael I. Fistel, Jr. is the
attorney responsible for its content.
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