An investigation on behalf of investors of Corinthian Colleges Inc (NASDAQ:COCO) shares over potential breaches of fiduciary duties by certain officers and directors of Corinthian Colleges Inc. was announced and NASDAQ:COCO investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/05/2012 -- Certain officer and directors of Corinthian Colleges Inc are under investigation over possible breaches of fiduciary duties in connection with certain financial statements made by Corinthian Colleges Inc.
Investors who are current long term stockholders of shares of Corinthian Colleges Inc (NASDAQ:COCO) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses concerns whether certain of its officers and directors of Corinthian Colleges Inc have possibly breached their fiduciary duties owed to Corinthian NASDAQ:COCO investors in connection with certain financial statements made by Corinthian Colleges Inc. Specifically, the investigation focuses on whether a series of statements by Corinthian Colleges Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Corinthian Colleges Inc reported that its Total Revenue increased from over $1.21 billion for the 12 months period that ended on June 30, 2009, to over $1.78 billion for the 12 months period that ended on June 30, 2011.
However its Net Income of $67.86 million for the 12 months period that ended on June 30, 2009, respectively its Net Income of $145.97 million for the 12 months fell to a Net Loss of $111.17 million for the 12 months period that ended on June 30, 2011.
Shares of Corinthian Colleges Inc (NASDAQ:COCO) grew from as low as $7.11 per share in March 2008 to as high as $21.21 per share in February 2009 and as high as $18.58 per share in March 2010.
Since then NASDAQ:COCO shares have lost substantial value and traded in September 2011 as low as $1.55 per share.
On September 4, 2012, NASDAQ:COCO shares closed at $2.03 per share.
Those who purchased shares of Corinthian Colleges Inc (NASDAQ:COCO) and currently hold those Corinthian Colleges Inc shares, may have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com