Career Education Corporation Provides Update on Department of Justice Investigations.Department of Justice Declines Prosecution and Closes Grand Jury Investigation 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) ) announced today that the U.S. Department of Justice ("Justice Department") in Chicago notified the company on April 19, 2007 that it was declining prosecution and closing its grand jury investigation of the company. The company first became aware of and disclosed the investigation in 2004. With the notification from the Justice Department, the investigation has now been terminated with no action taken against the company. As previously disclosed, the company received a letter from the Civil Division of the Justice Department in Washington D.C. dated May 30, 2006 advising the company that it was reviewing allegations that certain of its schools may have submitted false claims or statements to the U.S. Department of Education. The letter requested that the company provide documents relating to various subject areas. The Justice Department has indicated that this review is informational in nature. The company has voluntarily responded to the Justice Department's request for information and has fully cooperated with it. The company believes this Civil Division informational review is ongoing. About Career Education Corporation The colleges, schools and universities that are part of the Career Education Corporation (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. ) family offer high quality education to approximately 90,000 students across the world in a variety of career-oriented disciplines. The 75-plus 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 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. Career Education is an industry leader whose gold-standard brands are recognized globally. Those brands include, among others, the 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; the 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. ; the Brooks Institute of Photography The Brooks Institute of Photography is a for-profit college based in Santa Barbara, California and Ventura, California. Brooks offers four majors. The Still photography program is based in Santa Barbara, and the Visual communications (Graphic Design), Motion Picture/Video and ; the Katharine Gibbs Schools; American InterContinental University; Colorado Technical University and Sanford-Brown Institutes and Colleges. The mission of CEC, through its schools, its educators, and its employees is education -- their primary goal, to enable students to graduate successfully and pursue rewarding careers. For more information see www.careered.com. The company's website also has a detailed listing of individual campus locations and web links for its 75-plus colleges, schools and universities. |
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