Add this to the lengthy list of woes facing
The lawsuit filed last week in
A Corinthian spokesman, Kent Jenkins, said the company has since paid the rent in full and had "sufficient financial resources to make this payment at all times." He did not respond to questions about why the lawsuit was filed, saying the company cannot speak for the landlord.
Neither the landlord, Equity Office Management, nor an attorney for the landlord responded to requests for comment. The landlord filed suit last week, alleging that Corinthian had owed money since at least Aug. 5.
"[Corinthian] has failed and refused, and continues to fail and refuse, to pay sums due under the lease," read the complaint, filed Aug. 19.
Jenkins, the Corinthian spokesman, said the company was in the midst of negotiating the lease when the lawsuit was filed. He said the company and the landlord now have "an amicable and mutually satisfactory agreement that should bring the legal action to a conclusion."
The company's headquarters are at the Griffin Towers buildings on Hutton Centre Drive, along the 55 Freeway near John Wayne Airport.
Corinthian's serious financial and regulatory problems came to light in June, when the company told investors that the
Corinthian received nearly 85% of its revenue from federal student aid last year. The company told investors in June that the federal sanctions could force the company to shut down.
As part of a deal announced in July, Corinthian agreed to sell most of its schools and close a dozen others in exchange for temporary cash infusions from the government.