DeVry Investors Reach $27.5M Settlement In Stock Drop Suit

Law360 (September 3, 2019, 9:16 PM EDT) -- Investors in the company formerly known as DeVry Education Group Inc. on Friday proposed a $27.5 million settlement deal in Illinois federal court that, if approved, will end a proposed class action alleging the for-profit college intentionally mischaracterized its graduates' career outcomes, leading to an inflation of its stock prices.

If newly appointed U.S. District Judge Mary M. Rowland finds after a fairness hearing that the terms of the settlement are appropriate, the full settlement will be funded by the company's insurance carrier, and the company, now known as Adtalem Global Education Inc., will agree to the proposed terms of the...

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