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Corinthian Colleges gets federal grand jury subpoena in California
Corinthian Colleges gets federal grand jury subpoena in California

Corinthian Colleges Inc., the beleaguered Orange County for-profit college firm, told investors Wednesday that it received a grand jury subpoena from the U.S. attorney's office in Los Angeles. The broad subpoena requests documents and records on the company's job placement rates, graduation rates, marketing materials and student loan default rates. The subpoena is the latest in a string of headaches for Corinthian, which announced last month that it would sell 85 of its 107 campuses and online programs amid heightened scrutiny from the U.S. Department of Education. Claiming Corinthian failed to provide documentation on job placement rates and other academic data, the...

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