CAREER
EDUCATION CORPORATION ANNOUNCES COMPLETION OF SEC
INVESTIGATION
No
Action Taken Against Company
HOFFMAN
ESTATES, Ill.--(January 22, 2008)–Career Education Corporation (NASDAQ:
CECO) said today that on January 17, 2008, it was advised by the Chicago
Regional Office of the Securities and Exchange Commission (“SEC”) that the SEC
investigation has been completed, with no action taken against the
company.
Career
Education previously disclosed that it was advised by the staff of the Chicago
Regional Office of the SEC on April 5, 2006 that the staff intended to recommend
to the SEC that it terminate its investigation concerning the company and
that
no enforcement action be taken against the company.
Gary
E.
McCullough, president and CEO of CEC, noted that the company has continued
to
put legal and regulatory issues behind it. CEC disclosed last year
that the U.S. Department of Justice had terminated its investigations with
no
action taken against the company, and that the U.S. Department of Education
had lifted its restrictions on the company’s ability to acquire schools and open
new campuses. “We are pleased to receive this positive news for the
company,” said McCullough.
About
Career Education Corporation
The
colleges, schools, and universities that are part of the Career Education
Corporation (CEC) family offer high quality education to a diverse population
of
approximately 90,000 students across the world in a variety of career-oriented
disciplines. The more than 75 campuses that serve these students are located
throughout the U.S. and in Canada, France, Italy, and the United Kingdom,
and
offer doctoral, master's, bachelor's, and associate degrees and diploma and
certificate programs. Approximately one third of our students attend the
web-based virtual campuses of American InterContinental University Online
and
Colorado Technical University Online.
CEC
is an
industry leader whose gold-standard brands are recognized globally. Those
brands
include Le Cordon Bleu Schools North America; Harrington College of Design;
Brooks Institute; International Academy of Design & Technology; American
InterContinental University; Colorado Technical University and Sanford-Brown
Institutes and Colleges. Through its schools, CEC is committed to providing
quality education, enabling students to graduate and pursue rewarding
careers.
For
more
information, see the company’s website at http://www.careered.com. The company's
website includes a detailed listing of individual campus locations and web
links
to its more than 75 colleges, schools, and universities.
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