INDIANAPOLIS (AP) — The former CEO of the parent company of for-profit ITT Technical Institute has agreed to pay $200,000 to settle a lawsuit accusing the company's management of hiding from investors the now-defunct firm's rapidly eroding financial condition.
CARMEL, Ind. (AP) — Former students of ITT Educational Services Inc. are asking to be considered creditors in the for-profit college operator's bankruptcy case.
The Indianapolis Business Journal reports (http://bit.ly/2hROp83 ) that five former students filed the motion Tuesday asking that they and thousands of other students be recognized as creditors as the bankruptcy case moves forward. The filing argues that the former students' debt qualifies them as creditors in the case.
CARMEL, Ind. (AP) — For-profit college operator ITT Educational Services Inc. has filed for Chapter 7 bankruptcy.
The Indianapolis Star reported Friday (http://indy.st/2cfFMkV ) that the Carmel, Indiana-based company is unloading its assets after the shutdown of 130 campuses nationwide. The closure displaced more than 35,000 students and more than 8,000 employees.
CARMEL, Ind. (AP) — The for-profit college ITT Technical Institute says in a federal filing that it will stop operating Friday.
Carmel, Indiana-based ITT Educational Services Inc. said in a Wednesday filing with the Securities and Exchange Commission that it would stop services about a week after it announced it would close its campuses. The company's main lender, Cerberus Capital Management, recently seized ITT's bank accounts.
BOSTON (AP) — Massachusetts officials have created a website to help former students of ITT Technical Institute after the chain of for-profit colleges abruptly shut down nationwide.
The website was announced by Republican Gov. Charlie Baker. It advises former students on how to apply to have their federal student loans erased and how to transfer course credits to another school. Students who were enrolled at ITT up to 120 days before the closure are eligible to have loans forgiven.
CARMEL, Ind. (AP) — Two employees laid off by the parent company of for-profit college chain ITT Technical Institute have filed a lawsuit claiming the company violated federal law by not providing 60 days' notice.
Allen Federman, a business analyst at ITT Educational Services Inc.'s Carmel, Indiana, headquarters, and Steve Ryan, an instructor at two ITT Technical Institute locations in California, filed the complaint Tuesday in U.S. District Court in Delaware.
CARMEL, Ind. (AP) — The company that runs ITT Technical Institute has announced it has stopped enrolling all new students a week after the federal government banned the for-profit school from enrolling students who use federal loans to pay for classes.