Career Education Corporation Announces Completion of SEC Investigation.No Action Taken Against Company HOFFMAN ESTATES, Ill. -- Career Education Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CECO CECO Council of Engineering Companies of Oregon CECO Cost Estimate Change Order CECO Center for Economic and Community Outreach CECO CENTCOM Engineer Contingency Organization CECO Concrete Engineering Company of Omaha (Ceco Concrete Construction LLC) ) said today that on January 17, 2008, it was advised by the Chicago Regional Office of the Securities and Exchange Commission ("SEC") that the SEC investigation has been completed, with no action taken against the company. Career Education previously disclosed that it was advised by the staff of the Chicago Regional Office of the SEC on April 5, 2006 that the staff intended to recommend to the SEC that it terminate its investigation concerning the company and that no enforcement action be taken against the company. Gary E. McCullough, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CEC (Central Electronic Complex) The set of hardware that defines a mainframe, which includes the CPU(s), memory, channels, controllers and power supplies included in the box. Some CECs, such as IBM's Multiprise 2000 and 3000, include data storage devices as well. , noted that the company has continued to put legal and regulatory issues behind it. CEC disclosed last year that the U.S. Department of Justice had terminated its investigations with no action taken against the company, and that the U.S. Department of Education had lifted its restrictions on the company's ability to acquire schools and open new campuses. "We are pleased to receive this positive news for the company," said McCullough. About Career Education Corporation The colleges, schools, and universities that are part of the Career Education Corporation (CEC) family offer high quality education to a diverse population of approximately 90,000 students across the world in a variety of career-oriented disciplines. The more than 75 campuses that serve these students are located throughout the U.S. and in Canada, France, Italy, and the United Kingdom, and offer doctoral, master's, bachelor's, and associate degrees and diploma and certificate programs. Approximately one third of our students attend the web-based virtual campuses of American InterContinental University American InterContinental University, commonly called AIU, is an international for-profit university owned by Career Education Corporation (stock symbol CECO). It was founded in 1977 as the American College of Applied Arts. Online and Colorado Technical University Colorado Technical University (CTU) is a system of proprietary for-profit colleges in the United States providing career training, accredited programs, and college degrees in a variety of areas. CTU grants bachelor's, master's and doctoral degrees. Online. CEC is an industry leader whose gold-standard brands are recognized globally. Those brands include Le Cordon Bleu For the Schnitzel variant, see . Le Cordon Bleu (French for "blue ribbon") is an international group of hospitality management and cooking schools teaching French cuisine. Schools North America; Harrington College of Design Harrington College of Design is located in the Loop area of Chicago, Illinois. It offers students programs leading to either a bachelor's or associate's degree upon completion of the Interior Design Program, Digital Photography Program, or Communication Design Program. ; Brooks Institute; International Academy of Design & Technology; American InterContinental University; Colorado Technical University and Sanford-Brown Institutes and Colleges. Through its schools, CEC is committed to providing quality education, enabling students to graduate and pursue rewarding careers. For more information, see the company's website at http://www.careered.com. The company's website includes a detailed listing of individual campus locations and web links to its more than 75 colleges, schools, and universities. |
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