Brief: Career Education Enters Into LOI To Settle About 310 Remaining Individual Arbitration Claims Filed Against Western Culinary Institute

Perdoceo Education

01/10/2019 22:00

Oct 1 (Reuters) - Career Education Corp  CECO.O :
    * CAREER EDUCATION - ENTERED INTO LETTER OF INTENT TO SETTLE
ABOUT
310 REMAINING INDIVIDUAL ARBITRATION CLAIMS FILED AGAINST
WESTERN CULINARY INSTITUTE
    * CAREER EDUCATION - EXPECTS FINANCIAL STATEMENTS FOR
QUARTER
ENDED SEPT 30 TO REFLECT RESERVE OF $7.1 MILLION RELATED TO
WESTERN CULINARY INSTITUTE SETTLEMENT
    * CAREER EDUCATION CORP - WESTERN CULINARY INSTITUTE
SETTLEMENT IS
FOR A TOTAL AMOUNT OF $7.1 MILLION
    * CAREER EDUCATION CORP - PAYMENT OF $7.1 MILLION FOR
SETTLEMENT
WILL BE MADE AFTER FINAL COURT APPROVAL, WHICH CO CURRENTLY
EXPECTS TO OCCUR IN Q1 OF 2020

Source text: [https://bit.ly/2nCgTGL]
Further company coverage:  CECO.O 

 (Reuters.Briefs@thomsonreuters.com)