Erickson v. Corinthian Colleges, Inc., et al.


Welcome to the Erickson v. Corinthian Colleges, Inc., et al. Securities Litigation Website


The Initial Distribution of the Settlement Fund occurred on March 30, 2018.

The purpose of this website is to inform you about a proposed Settlement pending of the following Class Action lawsuit: Erickson v. Corinthian Colleges, Inc., et al., No. 2:13-cv-07466-GHK-PJW (the “Action”) and about your legal rights and options in connection with the Settlement. This website explains the Action, the Court proposed Settlement, your legal rights, what benefits are available, who may be eligible for those benefits, and how to get them.

This Action brings claims against Corinthian Colleges, Inc. (“Corinthian” or the “Company”) and three of Corinthian’s former executives (the “Individual Defendants”). Plaintiffs allege that Defendants made false and misleading statements about Corinthian’s business operations and compliance with government regulations. Specifically, Plaintiffs allege that: (1) Defendants misrepresented Corinthian’s job placement statistics; (2) Defendants manipulated Corinthian’s federal student loan programs to comply with federal regulations; and (3) Defendants engaged in deceptive enrollment practices. Plaintiffs allege that the Individual Defendants were aware of these misrepresentations through their positions in the Company. Finally, Plaintiff allege that a series of eight disclosures and events from May 2011 to October 2013 revealed misconduct at Corinthian to the market, causing shareholders’ losses.

If you purchased or otherwise acquired Corinthian common stock between August 23, 2010 and April 14, 2015 (both dates inclusive) (the “Class Period”), you could be entitled to a payment from a class-action settlement.

The Court will hold a Settlement Hearing on October 31, 2016 at 9:30 a.m. to decide whether to approve the Settlement. If approved by the Court, the Settlement will provide $3,500,000, plus interest earned thereon (the “Settlement Amount”), to pay claims of investors who purchased or otherwise acquired Corinthian common stock during the Class Period.

Please be sure to review the Notice to fully understand your rights. If you are a member of the Class, your legal rights will be affected whether you act or do not act.