ESI has not presented a Quarterly Earnings Report since October 17, 2014............http://www.ittesi.com/index.php?s=19#past:2015:3............That's not good. Stockholders have to be wondering about the wait--especially after PWC gave up a lucrative $6 million accounting contract as the external auditor. After an Earnings Report does come out, some stockholders may not believe the numbers--they may wonder if information is being withheld. Lateness in reporting happens to corporations that are on the rocks. To review: look at the news from the last year: CEO Modany resigns (effective February 6, 2015). PWC quits its $6 million auditing deal (effective January 1, 2015). Deloitte replaces PWC. Board member Jerry Cohen (on the audit committee)is a former executive at Deloitte and worked there 40 years. Still facing criminal charges with CFPB in Indianapolis US District Court (although Judge is business friendly). Blum Capital Partners slowly divesting. No full annual report posted since 2013. Stock price down more than 90% from its peak.
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ESI executives were bailing out in 2012. http://www.mmdnewswire.com/12-83055.html
They have to be feeling pressure from the federal government to stem the losses though. How many billions in worthless loans have these leeches sucked out of the student loan program while saddling hundreds of thousands of former students with toilet paper degrees that employers laugh at? Bottom line is they wouldn't be in the crosshairs if their education actually led to any of their students being able to use the degrees and get high paying jobs enough to pay back the loans. They can whine and cry all day long now, but ultimately if the students can't even afford housing and food then the student loans will never get paid back and its completely a failure of the school, not the students.
@Anonymous75769, that's a good question. Not only is the judge "business friendly" but the venue is in Indianapolis, where lots of ESI executive jobs are. Republican or mainstream Democrat, what are the odds that such a judge is going to be responsible for the demise of a local company and its most powerful and wealthy citizens?
Any way to request a non-corrupt judge?