| Company: | DeVry, Inc |
| Ticker Symbol: | DV |
| Class Period: | Oct-25-07 to Aug-13-10 |
| Date Filed: | Nov-8-10 |
| Lead Plaintiff Deadline: | Jan-7-11 |
| Court: | Northern District of Illinois |
| Allegations: | |
The Complaint charges DeVry, a global provider of educational services, and certain of its officers and directors with violations of federal securities laws. Specifically, the Complaint alleges that defendants failed to disclose the following: (i) the Company had engaged in improper and deceptive recruiting and financial aid lending practices and, due to the government's scrutiny into the for-profit education sector, DeVry would be unable to continue these practices in the future; (ii) DeVry failed to maintain proper internal controls; and (iii) many of the Company's programs were in jeopardy of losing their eligibility for federal financial aid.
On August 13, 2010, after the market closed, the U.S. Department of Education released data on federal student-loan repayment rates at the nation's colleges and universities. The data showed that the repayment rate at DeVry was just 38%. On this news, DeVry stock dropped 8.76% from a closing price of $42.71 on August 13, 2010 to a closing price of $38.97 per share on August 16, 2010.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
