Education Co. Can't Dodge Investor Suit Over Job Numbers

Law360, New York (October 30, 2012, 6:51 PM EDT) -- For-profit education company Career Education Corp. failed to escape a securities class action in Illinois federal court Tuesday over an internal investigation conducted by Dewey & LeBoeuf LLP that found it used improper student placement determination practices in its schools across the country.

U.S. District Judge Matthew F. Kennelly granted a motion to dismiss only as to the claims against Chief Financial Officer Michael J. Graham, leaving the securities fraud claims against CEC and ex-CEO Gary E. McCullough intact. The defendants had moved to dismiss for...
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