NEW YORK--(BUSINESS WIRE)--Newman Ferrara LLP has begun an investigation into whether the officers and directors of DeVry Educational Group, Inc. (“DeVry”)(NYSE: DV) breached their fiduciary duties to the company by failing to take adequate steps to ensure that the Company accurately reported employment statistics of its graduates.
DeVry’s advertising claims that since 1975, 90% of DeVry University graduates seeking employment in their fields of study obtained employment within six months of graduation, and that DeVry University graduates had 15% higher incomes one year after graduation on average than the graduates of all other colleges or university.
According to a complaint filed against DeVry by the Federal Trade Commission this, and other DeVry advertisements, were false and misleading. Further, as a result of these false and misleading employment statistics, the United States Department of Education has issued DeVry University a Notice of Intent to Limit DeVry University’s participation in Title IV programs.
Newman Ferrara’s investigation concerns the extent to which certain DeVry’s officers and directors knew or should have known that DeVry’s reporting of employment was inaccurate.
If you hold DeVry’s stock and wish to obtain additional information about the investigation and your legal rights and potential remedies, please contact Newman Ferrara attorney Roger Sachar Jr. at firstname.lastname@example.org.
Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.