San Diego, CA -- (ReleaseWire) -- 09/17/2012 -- An investigation on behalf of former and current employees of Corinthian Colleges Inc, who are or were participants or beneficiaries of the Corinthian Colleges employee company stock option plan and purchased and currently hold NASDAQ:COCO)stock, was announced concerning potential breaches of fiduciary duties by certain officers and directors at Corinthian Colleges Inc.
Those who are former or current employees or members of the Corinthian Colleges Inc investment plans or profit sharing retirement plans and purchased and hold NASDAQ:COCO 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 Corinthian Colleges Inc officers and directors have possibly breached their fiduciary duties in connection with certain financial statements.
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 14, 2012, NASDAQ:COCO shares closed at $2.57 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.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego