Glancy Binkow & Goldberg LLP is Investigating Potential Claims on Behalf of ITT Educational Services Inc. Investors
Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of investors of ITT Educational Services Inc. (“ITT” or the “Company”) (NYSE:ESI) . The investigation concerns possible violations of federal securities laws and focuses on the Company’s operations and financial performance. The investigation is related to the Company’s September 19, 2014, disclosure in regulatory filing that on August 7, 2014, the Company received a notice from the Securities and Exchange Commission, Division of Enforcement, notifying the Company that the division Staff had made a preliminary determination to recommend that the SEC file an enforcement action against the Company.
According to the Company, the Staff informed ITT that “the enforcement action would allege violations of Sections 10(b), 13(a) and 13(b)(2) of the Securities Exchange Act of 1934,” and various Rules promulgated under the Exchange Act, and “the Staff’s recommendation may:
- involve a civil injunctive action, public administrative proceeding and/or cease-and-desist proceeding against us; and
- seek remedies that include an injunction, a cease-and-desist order and monetary relief, including civil monetary penalties.”
Following this news, shares of ITT dropped approximately 35% below the previous closing price, or as much as $2.70 per share, in intraday trading on September 19, 2014.
If you purchased ITT shares, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by toll-free telephone at (888) 773-9224 or by telephone at (310) 201-9150, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
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