Dive Brief:
- The California attorney general has filed a lawsuit against Corinthian Colleges.
- The for-profit college company is accused of false and predatory advertising, securities fraud and intentional misrepresentations to students.
- The suit says that the company sometimes advertised job placement rates as high as 100%.
Dive Insight:
Last month, a Huffington Post investigation found that eight states and the federal government had investigated Corinthian. The company has received $10 billion in federal student aid – more than 80% of its revenue. A spokesman for the company says it was "disappointed" to learn about the lawsuit and has processes in place to accurately disclose job placement information.