Along with EDMC, Miller announced the DOJ is actively investigating ITT, Career Education Corporation (CEC) and Corinthian Colleges Inc. Attorney General offices from Kentucky, Connecticut, Iowa and Pennsylvania are leading those investigations. As with Ashford, skeptical recruiting, lead generation, enrollment qualifications and students complaints are among items being looked into. At least 12 states are collaborating with each case.
Bridgepoint Education is a publicly traded commodity. Since Miller’s announcement on Friday, share prices have dropped 20 cents to $14.40 per share. That follows a more dramatic drop in March, when President Obama announced harsher restrictions for for-profit institutions receiving federal aid. Bridgepoint fell from $19.01 a share to $16.02 in just one day, and the price has made a slow decline to its current state.