SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has commenced an investigation into whether certain officers and directors of ITT Educational Services, Inc. (NYSE: ESI) violated state or federal laws regarding its credit practices and statements related to business, operations and financial prospects. ITT Educational Services, Inc. provides postsecondary degree programs in the United States. Specifically, Johnson & Weaver’s investigation seeks to determine whether certain statements regarding ITT’s business and prospects were false and misleading when made.
On July 30, 2015, ITT reported earnings per share for the first six months of 2015. Earnings increased to $0.47 compared to $0.17 in the first six months of 2014. However, the Company’s earnings slowed considerably in the second quarter; earning $.03 cents per share missing analyst consensus earnings estimate of $.10. ITT also reported new student enrollment in the second quarter of 2015 decreased 18.6% to 12,638 compared to 15,523 in the same period in 2014. On this unfavorable news, shares of ITT fell over 22% in the next two trading sessions to close at $3.04 on August 3, 2015.
If you have information that could assist in this investigation, or if you are an ITT shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (email@example.com) by email or by phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
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