Corinthian Colleges Inc. said the Securities and Exchange Commission had completed its review of the company’s 2004 financial report.
The Santa Ana-based operator of for-profit schools said after the close of trading Tuesday that the SEC didn’t have “any further comments at this time” about the report, Corinthian said in a release.
Corinthian shares were unchanged at $16.8 on Wednesday.
Corinthian said it agreed to the SEC’s request to include more disclosure in how it values some intangible assets.
In November, the SEC told Corinthian that it was looking at the company’s report for the year ended June 30. Earlier this year Corinthian said it had finished its review of the results, but didn’t make any recommendations to the company.
Corinthian, which offers degrees in healthcare, business, technology and criminal justice, has come under the scrutiny of regulators in the past year.
Late last year, the federal Department of Education restored Corinthian’s ability to receive advanced financial aid funding after looking into financial aid issues at its San Jose campus.
Meanwhile, Corinthian faces several lawsuits filed by students. In March, the company learned that about 80 former and current students at Corinthian’s Florida Metropolitan University filed suit, alleging the company didn’t disclose the campus’ lack of accreditation by the Commission on Colleges of the Southern Association of Colleges and Schools.
The lack of accreditation prevented the students from transferring credits to other schools, according to a report on the lawsuit from Reuters.
Corinthian said the suit was “without merit” and plans to seek arbitration instead of litigation.
