Corinthian Colleges Faces Liquidity Shortage After U.S. Delays Aid
Shares of the company were trading at 32 cents Thursday and are down 82% so far this year. The stock had traded above $30 a share at its peak 10 years ago.
The U.S. Department of Education, citing delays in the company’s responses to information requests, has placed federal financial aid for Corinthian under greater scrutiny, while delaying the for-profit education company’s draw down on requested funds.