According to the New York Times: Recently, a number of for-profit
colleges have faced inquiries, lawsuits and other actions calling
into question the way they inflate enrollment to mislead/increase
the value of their parent company's stock.
In the last year, the Career Education Corporation of Hoffman
Estates, Ill., has faced lawsuits, from shareholders and students,
contending that, among other things, its colleges have inflated
enrollment numbers. The company acknowledged that it was under
investigation by the Justice Department and the Securities and
Exchange Commission.
In February 2004, F.B.I. agents raided 10 campuses run by ITT
Educational Services of Carmel, Ind., looking for similar
problems.
Kaplan is wholly own by the Washington Post Company. I provide the
S.E.C., Department of Education, and federal courts information
that appears to prove Kaplan inflated the Concord School of Law
enrollment, telling investors that the "flagship" of its higher
education division has as many as 600 to 1000 or more students.
Why didn't the Justice Department and S.E.C. included Kaplan in
their investigation?
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