SHAREHOLDER ALERT: Hagens Berman Notifies DeVry Education Group Inc. Corporation (NYSE: DV) Investors of Securities Class Action and July 12, 2016 Lead Plaintiff Deadline


SAN FRANCISCO, May 20, 2016 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, alerts DeVry Education Group (NYSE:DV) investors that a securities class action lawsuit has been filed and that July 12, 2016 is the lead plaintiff deadline.  The litigation concerns Defendants’ statements regarding its graduates’ employment and salaries, the Federal Trade Commission’s lawsuit for deceptive advertisements, and the Department of Education’s related investigation and findings.

If you suffered significant losses because of your purchases of DeVry between February 4, 2011 and January 27, 2016, or have information that will help our investigation, contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation by calling 510-725-3000, emailing DV@hbsslaw.com or visiting https://www.hbsslaw.com/cases/DV.  The lawsuit was filed in the U.S. District Court for the Northern District of Illinois and investors have until July 12, 2016 to move the court to participate as a lead plaintiff.

Throughout the class period, Defendants recruited students based on public statements that approximately 90% of DeVry graduates who were actively seeking employment landed or obtained new jobs in their field of study within six months of graduation (90% claims).  Defendants also recruited based on public statements that students graduating with a bachelor’s degree from DeVry earned more than similar graduates from other colleges (“higher income claims”).

On January 27, 2016, the U.S. Department of Education published its “Notice of Intent to Limit” finding DeVry is unable to substantiate the truthfulness of its statements about graduate employment rates as required by federal law.  The same day, the U.S. Federal Trade Commission filed a lawsuit against DeVry alleging DeVry’s 90% claims and higher income claims violated the Federal Trade Commission Act, which prohibits unfair or deceptive practices.

On this news, the price of DeVry’s common stock fell 15% to close at $20.09 per share that day.

“DeVry’s 90% and higher income claims starkly contrast with its inability to substantiate them, all to its shareholders’ detriment, suggest fraud here,” said Hagens Berman partner Reed Kathrein.

Whistleblowers: Persons with non-public information regarding DeVry should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email DV@hbsslaw.com.

About Hagens Berman
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