SOURCE: Gilman Law LLP

Gilman Law LLP

January 24, 2012 07:20 ET

Gilman Law LLP, a National Law Firm Representing Victims of Securities Fraud, Announces Shareholders' Securities Fraud Class Action Lawsuit Filed Against Career Education Corporation

NAPLES, FL--(Marketwire - Jan 24, 2012) - The leading national law firm of Gilman Law LLP announces a securities law violations lawsuit against Career Education Corporation ("Career Education", "CEC" or the "Company") (NASDAQ: CECO) and certain of its officers and directors. The suit alleges that materially false and misleading statements or failed to disclose material information related to the company's business and operations were made in violation of Section 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10-5 promulgated thereunder.

If you purchased or otherwise acquired the common stock of Career Education during the period between January 1, 2009 and November 1, 2011, inclusive (the "Class Period") and lost money on the transaction or still hold the shares, please contact Gilman Law LLP by March 13, 2012 to discuss your rights to recovery of your losses or to obtain additional information. To learn more about the Career Education Class Action Securities Law Violations Lawsuit, please visit the Gilman Law Investment Losses Website or contact Gilman Law LLP at (888) 252-0048.

The shareholder class action lawsuit was filed in the US District Court for the Northern District of Illinois after certain key Company senior executives resigned and the Company's stock plummeted almost 50%. Shareholders allege that throughout the Class Period, Career Education represented that its retention rates and employment or "placement rates" following graduation were higher than they actually were. The Complaint alleges that positive statements made by the Company were materially false and misleading when made, and were known to be false and misleading because the Company failed to disclose that the Company's purported Placement rates were achieved through an improper course of conduct and a manipulative use of the term "employment."

The securities lawyers at Gilman Law have over 32 years of experience representing both individual and institutional investors in securities cases and have been involved in all major aspects of securities litigation, including cases involving stock manipulation, securities fraud, and shareholder rights violations. For more information on the Career Education Investor Class Action Lawsuit or our other current investigations, or for a free evaluation of your case please visit Gilman Law or CALL TOLL FREE at (888) 252-0048.

Contact Information