Devry University

{“The Complaint charges DeVry, a global provider of educational services, and certain
of its officers and directors with violations of federal securities laws. Specifically, I, the
Complaint alleges that defendants failed to disclose the following: the Company had
engaged in improper and deceptive recruiting and financial aid lending practices
and, due to the governments scrutiny into the for-Profit education sector, DeVry would
be unable to continue these practices in the future.”}

(“ii DeVry failed to maintain proper internal controls; and iii many of the
Companies programs were in jeopardy of losing their eligibility for federal
financial aid. On August 13, 2010, after the market closed, the U.S. Department of
Education released data on federal student-loan repayment rates at the nations colleges
and universities. The data showed that the repayment rate at DeVry was just 38%. On
this news, DeVry stock dropped 8.76% from a closing price of $42.71 on August
13, 2010 to a closing price of $38.97 per share on August 16, 2010.”)
----By: Tamara Lewin Published: August 8, 2011

[“The Department of Justice is currently reviewing the many complaints
from students & whistle-blower employees. DeVry University & other for-
profit schools educate less than 10 percent of all college students but get 25
percent of all Pell grants.”]

[“For-profit school students make up 44 percent of the federal student
loan defaults of this is due to the fact that for-profit schools’ consumer base
are 99% poor students and students of color who are the first in their
families to go to college.”]
---Allen Yesilevich| November 3, 2010

[“A securities class action complaint has been filed against DeVry, Inc.
(NYSE: DV) on behalf of all common shareholders during the period of
October 25, 2007 and August 13, 2010. The lawsuit, filed in the U.S.
District Court for the Northern District of Illinois, alleges that DeVry’s
for-profit educational institution and subsidiaries (Becker Professional
Education, Carrington College and Carrington College
California, Chamberlain College of Nursing, DeVry Brasil, DeVry
University, and Ross University; misled investors by failing to disclose
that its profits were made by engaging in improper and deceptive
recruiting and financial aid lending practices.”]
http://www.classactioncentral.com/2010/11/lawsuit-alleges-devry-misled-investors-over-recruiting-practices/

[“According to the complaint, Devry’s recruiting policy enabled
the company to consistently increase enrolment numbers at its
colleges and collect subsidized tuition from the government.

But after new government regulations were established recently
as a result of an industry-wide investigation into recruiting and
lending practices in the for-profit education sector, DeVry’s
revenues are now in jeopardy because it is now unable to
continue with its previous recruitment practices.”]

[“The U.S. General Accounting Office (GAO) issued a 30-page report concluding
that for-profit educational institutions like DeVry have engaged in an illegal and
fraudulent course of action designed to recruit students and overcharge the federal
government for the cost of such education. As detailed in the report, government
investigators found that for-profit colleges encouraged fraudulent practices and misled
prospective students. “]
[“As part of the investigation, GAO staffers posed as students and applied for
admission at 15 for-profit colleges across the United States. According to the report,
school personnel encouraged GAO staff to falsify financial aid forms and misled them
about costs. The report claims that the institutions falsified information about
accreditation and engaged in deceptive and questionable marketing practices.”]

[“DeVry shares fell 6.14% on August 6 after DeVry announced that it had
received a request for information from the U.S. Senate Committee on
Health, Education, Labor, and Pensions relating to the Committee’s
ongoing hearings regarding private-sector colleges receiving Title IV
financial aid. “]
[“The request sought information on how DeVry’s institutions used
“federal resources, including how they recruit and enrol students, set
program price or tuition, determine financial aid including private or
institutional loans, track attendance, handle withdrawal of students and
return of Title IV dollars and manage compliance with the requirement that
no more than 90% of revenues come from Title IV dollars.”]

[“On August 13, the Department of Education (DOE) and the Institute
for College Access & Success, an Oakland, California-based non-profit
research and advocacy group, released an analysis revealing that many
of the for-profit college students aren’t repaying school loans.
Specifically, the report showed that DeVry had a repayment rate of 38%.
New rules proposed by the DOE indicates that institutions would be
eligible for federal student loan aid if at least 45% of their former
students were paying off the principal on their federal loans, or graduates
had a debt-to-earnings ratio of less than 20% of discretionary income or
8% of total income.”] ---Allen Yesilevich| November 3, 2010

[“The biggest sign that everyone can agree on is the numbers of graduates who find
careers. Their commercials and flyer’s clearly state year after year. “That in 2007-
2008-2009-2010-2011 99% of Devry Universities graduates have been hired and have
found their careers.”

WHAT!!! LOOK AT THE YEARS, WHO WAS HIRING IN 2007-2008, NO ONE!
THERE WERE HIRING FREEZES AND DOWN SIEZING. IN 2008-2009, WE SAW
COMPANIES SHUTTING DOWN AND BANKS SHUTTING DOWN LIKE
DOMINOES. “]

[“IN 2009-2011 WE ARE INTO A DOUBLE DIP RECESSION, AND NOW 3 WARS.
PLEASE LOOK AT THE EVIDENCE AND DODGE DEVRY OR YOU CAN BE IN
DEBT OF AN AVERAGE $50,000 PLUS $40,000 IN INTEREST RATES AND
EMPLOYER’S WHO LAUGH AT YOU DURING INTERVIEWS. I am not just
unemployed from the economy, but from a bull-shit education and degree.”]

Devry University

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