Career Education Corp.
Robbins LLP served as co-lead counsel in shareholder derivative litigation arising out of Career Education Corp.’s alleged publication of false statements regarding job placement and student loan repayment rates and failure to ensure compliance with Title IV regulations. The firm played a leading role in negotiating the global resolution of a series of actions brought against and on behalf of the company. The firm helped secure a $20 million recovery and comprehensive board and management-level corporate governance and oversight reforms for Career Education, including enhanced compliance and whistleblower policies, new director independence standards, improved executive compensation claw-back provisions, a comprehensive director education and employee training program and improved regulatory risk management and disclosure regime.
Cook v. McCullough, No. 1:11-cv-09119 (N.D. Ill. Jan. 28, 2014)