Article,

ITT Educational Services is sued for fraud and searched by federal agents

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The Chronicle of Higher Education, (2004)

Abstract

A law firm specializing in securities litigation has filed a class-action lawsuit against ITT Educational Services. The suit alleges that the for-profit higher education provider issued "materially false and misleading" quarterly reports that defrauded investigators. Moreover, U.S. Postal Service inspectors searched the headquarters of ITT Educational Services, along with several campuses of the technical schools operated by the company, on the day before the suit was filed.

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