San Diego, CA -- (ReleaseWire) -- 09/18/2012 -- An investigation on behalf of former and current employees of Career Education Corp., who are or were participants or beneficiaries of the Career Education Corp. employee company stock option plan and purchased and currently hold NASDAQ:CECO stock, was announced concerning potential breaches of fiduciary duties by certain officers and directors at Career Education Corp..
Those who are former or current employees or members of the Career Education Corp. investment plans or profit sharing retirement plans and purchased and hold NASDAQ:CECO shares or have information relating to this investigation, 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 concerns whether certain Career Education officers and directors have possibly breached their fiduciary duties in connection with certain financial statements.
Career Education Corp. reported that its annual Revenue fell from over $2 billion in 2010 to over $1.82 billion in 2011 and that its Net Income declined from $157.77 million in 2010 to $18.57 million in 2011.
Shares of Career Education Corp. (NASDAQ:CECO) declined from over $34 in April 2010 to as low as $6.32 in December 2011. In 2012 NASDAQ:CECO shares declined to as low as $3.08 in August 2012. On September 7, 2012, NASDAQ:CECO shares closed at $3.64 per share.
Those who are long term stockholders in shares of Career Education Corp. (NASDAQ:CECO) and currently hold those Career Education Corp. shares, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego