Corinthian Colleges Hit with Over $1 Billion Judgment Over Fraudulent Conduct

Corinthian Colleges Hit with Over $1 Billion Judgment Over Fraudulent Conduct

$820 million to affected students, $350 million in civil penalties

MarketWatch reports that a California judge has ordered the now-defunct Corinthian Colleges for-profit college chain to pay over $1 billion against claims the company misled investors and students. Unfortunately, as the journal notes, former students will probably not see any of that money, as the company filed for bankruptcy last year and declared its total assets were less than $20 million. [Read more…]