California sues Corinthian Colleges for misleading job placement rates

Reuters

SAN FRANCISCO (Reuters) - California is suing Corinthian Colleges Inc for misrepresenting job placement rates to its students and investors, according to a court filing on Thursday. The lawsuit, filed with San Francisco superior court on Thursday, accuses Corinthian - which describes itself as one of the largest post-secondary education companies in North America - and several subsidiaries of several counts including securities fraud, according to the filing. Corinthian representatives were not immediately available for comment. (Reporting by Dan Levine; Editing by Bernard Orr)