Career Education Corp. Class Action Dismissed

Hoffman Estates, IL: (Apr-02-07) A Third Amended Consolidated class action lawsuit was filed against the quality education company alleging securities fraud. The securities class action alleged certain of the company's officers and directors engaged in securities fraud. Plaintiffs had filed two previous complaints which were dismissed by the Court for failure to state a claim for securities fraud. The United States District Court for the Northern District of Illinois has dismissed the case with prejudice. Judge Joan Lefkow noted that the majority of plaintiff's new allegations were vague or otherwise unreliable, and none rose an inference that any of Career Education Corp.'s public statements were false or misleading. [PR NEWSWIRE: CEC DISMISSED]