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Case Status:    SETTLED
On or around 09/26/2017 (Date of order of final judgment)

Filing Date: August 31, 2010

According to the complaint filed August 31, 2010, throughout the class period the defendants made false and/or misleading statements, as well as failed to disclose adverse information about the Company. Specifically, the defendants made false and/or misleading statements and/or failed to disclose: (1) the Company overstated its growth prospects by engaging in illicit and improper recruiting activities, which also had the effect of artificially inflating the Company’s reported results and future growth prospects; (2) the Company’s financial results were overstated in that the Company’s colleges inflated tuition costs and its loan repayment rates were well below levels required for participation in federal loan programs; (3) the Company failed to maintain adequate systems of internal operational or financial controls; and (4) based on the foregoing, defendants lacked a basis for their positive statements about the Company, its prospects and growth.

According to the Minute Order filed on March 30, 2011, the Wyoming/PMT has the larger financial stake in this litigation, and is the presumed lead plaintiff absent defects in the Rule 23 requirements. Since we have already concluded that Wyoming/PMT satisfies the Rule 23 requirements for present purposes, we now appoint Wyoming/PMT as the lead plaintiffs in this action, and appoint Robbins Geller Rudman & Dowd LLP as counsel for lead plaintiffs.

On May 05, 2011, a Second Amended Complaint for Violation of the Federal Securities Laws was filed in the Central District of California.

On January 30, 2012, the Court issued an Order granting Defendants' motion to dismiss, with leave to amend. On February 29, 2012, a Third Amended Complaint was filed. On March 30, 2012, the Defendants filed a motion to dismiss the TAC. On August 20, 2012, the Court issued an Order granting the Defendants' motion to dismiss with prejudice.

On September 19, 2012, a Notice of Appeal of the above dismissal was filed by Lead Plaintiffs.

On May 9, 2017, the parties entered into a Stipulation of Settlement. The Settlement was preliminarily approved on July 7. On September 26, the Court granted final approval of the Settlement and dismissed this case.

COMPANY INFORMATION:

Sector: Services
Industry: Schools
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: COCO
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: C.D. California
DOCKET #: 10-CV-06523
JUDGE: Hon. George H. King
DATE FILED: 08/31/2010
CLASS PERIOD START: 10/30/2007
CLASS PERIOD END: 08/19/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Binkow & Goldberg LLP (Los Angeles)
    1801 Ave. of the Stars, Suite 311, Glancy Binkow & Goldberg LLP (Los Angeles), CA 90067
    310.201.915 310. 201-916 · info@glancylaw.com
  2. Labaton Sucharow LLP
    140 Broadway, Labaton Sucharow LLP, NY 10005
    212.907.0700 212.818.0477 · info@labaton.com
No Document Title Filing Date
COURT: C.D. California
DOCKET #: 10-CV-06523
JUDGE: Hon. George H. King
DATE FILED: 02/29/2012
CLASS PERIOD START: 10/30/2007
CLASS PERIOD END: 08/19/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (New SF Office)
    One Montgomery Street, Suite 1800, Robbins Geller Rudman & Dowd LLP (New SF Office), CA 94104
    (415) 288-4545 (415) 288-4534 ·
No Document Title Filing Date