Justice Department Ends Inquiry Into ITT

carlosb · Jun 28, 2005

http://chronicle.com/prm/daily/2005/06/2005062802n.htm

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Justice Department Ends Inquiry Into ITT Educational Services and Top Officials Without Filing Charges

In part:

A criminal investigation of ITT Educational Services by the U.S. Department of Justice has found no wrongdoing by the company or its corporate leaders. But investigators will continue to examine individual campuses and the actions of lower-level employees.

The inquiry, by the U.S. attorney for the Southern District of Texas, "has not revealed evidence sufficient to continue the designation of ITT, or any of its 'senior management,' as targets or subjects," Chuck Rosenberg, the U.S. attorney, wrote in a letter to ITT's lawyers on Friday.

The federal government expects the for-profit education company to cooperate "as the investigation of the conduct of other individuals continues," he said.

ITT's stock traded heavily on Monday, closing at $51.68, up 12.6 percent since Friday.
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