Thread regarding Corinthian Colleges Inc. layoffs

You really should read the 8k and google the new that came our late yesterday before you call fake. Don't know if there is a sale or not but they are spelling out what will happen to the money.

Corinthian Colleges, Inc. (the “Company,” “Corinthian,” “we,” “us” or other similar terms) has entered into a Second Amendment to Operating Agreement (the “Second Amendment”), dated September 12, 2014 and effective as of September 18, 2014, with the U.S. Department of Education (the “Department”).

As previously reported, on July 3, 2014, the Company and its wholly- and partially- owned subsidiaries, on the one hand, and the Department on the other hand, entered into an operating agreement (the “Operating Agreement”) that established a framework for a transition plan intended to result in the sale of most of the Company’s schools and the teach-out of certain other schools, together with oversight of the Company’s ongoing operations. On July 7, 2014, the Company filed a Current Report on Form 8-K with the SEC in which it provided extensive details regarding the Operating Agreement. Section VI.F of the Operating Agreement provides that the Company and the Department will work together to establish a reserve fund to be placed in escrow (the “Escrow”) and used exclusively for student refunds. The full article is available online

You really should read the 8k and google the new that came our late yesterday before you call fake. Don't know if there is a sale or not but they are spelling out what will happen to the money.

Corinthian Colleges, Inc. (the “Company,” “Corinthian,” “we,” “us” or other similar terms) has entered into a Second Amendment to Operating Agreement (the “Second Amendment”), dated September 12, 2014 and effective as of September 18, 2014, with the U.S. Department of Education (the “Department”).

As previously reported, on July 3, 2014, the Company and its wholly- and partially- owned subsidiaries, on the one hand, and the Department on the other hand, entered into an operating agreement (the “Operating Agreement”) that established a framework for a transition plan intended to result in the sale of most of the Company’s schools and the teach-out of certain other schools, together with oversight of the Company’s ongoing operations. On July 7, 2014, the Company filed a Current Report on Form 8-K with the SEC in which it provided extensive details regarding the Operating Agreement. Section VI.F of the Operating Agreement provides that the Company and the Department will work together to establish a reserve fund to be placed in escrow (the “Escrow”) and used exclusively for student refunds. The full article is available online

Corinthian Colleges, Inc. (the “Company,” “Corinthian,” “we,” “us” or other similar terms) has entered into a Second Amendment to Operating Agreement (the “Second Amendment”), dated September 12, 2014 and effective as of September 18, 2014, with the U.S. Department of Education (the “Department”).

Look at 8k on cci site