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corinthian colleges inc (COCO) Snapshot

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08/26/13 - $2.75
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07/8/14 - $0.20
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corinthian colleges inc (COCO) Details

Corinthian Colleges, Inc. operates as a post-secondary education company. The company offers various diploma programs, as well as associate, bachelor’s, and master’s degrees. It also provides training program in healthcare, criminal justice, business, mechanical, trades, and information technology areas. The company’s diploma curricula includes medical assisting, medical insurance billing and coding, massage therapy, dental assisting, pharmacy technician, medical administrative assisting, surgical technology, automotive and diesel technology, HVAC, plumbing, electrical, and licensed practical nursing programs. Its degree curriculum comprises business administration, accounting, paralegal, criminal justice, medical assisting, and registered nursing programs. Corinthian Colleges, Inc. also provides online programs in business, criminal justice, criminal investigations, accounting, computer information science, and paralegal. As of June 30, 2013, it operated 97 schools in 25 states of the United States and 14 schools in the province of Ontario, Canada with a total of 81,284 student enrollments under the Everest, WyoTech, and Heald brand names. The company was founded in 1995 and is based in Santa Ana, California.

10,100 Employees
Last Reported Date: 09/3/13
Founded in 1995

corinthian colleges inc (COCO) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $900.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $400.0K
Chief Administrative Officer and Executive Vi...
Total Annual Compensation: $530.5K
Executive Vice President
Total Annual Compensation: $451.1K
Executive Vice President, General Counsel and...
Total Annual Compensation: $396.6K
Compensation as of Fiscal Year 2013.

corinthian colleges inc (COCO) Key Developments

Corinthian Colleges Plans To Sell Springfield Campus

Kent Jenkins, spokesman for Corinthian Colleges, said Corinthian is selling 85 of its 97 Everest campuses, and he expects operations to continue as normal at those campuses, including Springfield. Twelve campuses, including the one in St. Louis, will be shut down rather than sold. Jenkins told the News-Leader on July 7, 2014 that the company is hoping to find new owners soon and that there already have been a number of "expressions of interest." "We are going to do everything we can to minimize disruption," Jenkins said.

Corinthian Colleges Receives Non-Compliance Notice From NASDAQ

On July 2, 2014, Corinthian Colleges Inc. received a letter from The NASDAQ Stock Market stating that the bid price of the Company’s common stock for the last 30 consecutive business days had closed below the minimum $1.00 per share required for continued listing under Nasdaq Listing Rule 5450(a)(1). The Company has been provided a period of 180 calendar days, or until December 29, 2014, to regain compliance. The letter states that the Nasdaq staff will provide written notification that the Company has regained compliance if at any time before December 29, 2014, the bid price of the Company’s common stock closes at $1.00 per share or more for a minimum of ten consecutive business days. In the event the Company does not regain compliance by December 29, 2014, the Company may be eligible for additional time. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq, with the exception of the $1.00 minimum bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company meets these requirements, the letter states that the Nasdaq staff will inform the Company that it has been granted an additional 180 calendar days. In the event the Company does not regain compliance with Nasdaq Listing Rule 5450(a)(1) prior to the expiration of the 180-day period (or such later date as Nasdaq may provide by extension), Nasdaq will notify the Company that its common stock is subject to delisting. Delisting could have a material adverse effect on the price of the Company’s shares and the Company’s ability to issue additional securities or secure financing. In the event of delisting, trading of the Company’s common stock would most likely be conducted in the over the counter market on an electronic bulletin board established for unlisted securities, which would adversely affect the liquidity of the common stock and analysts’ coverage of the Company could be reduced.

Everest Seeks Sale Of Florida Campuses

Everest University is planning to sell 10 of its Florida campuses including four in the Tampa Bay area. The move comes as a result of a nationwide agreement between the U.S. Department of Education with Corinthian Colleges Inc. (NasdaqGS:COCO). The chain of schools based in Santa Ana announced plans to sell 85 of its schools and eventually close 12 others. Corinthian Colleges has put six of its Everest College campuses in Washington on the block.


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