For-Profit
Collegse Are Failing Scrutiny of GAO
For-Profit Jail Should Get The Heat Next. Guess who is the biggest financial backer
of
Arizona's new arrest on sight anyone who looks like they are an illegal allien. The
for-Profit Prisons.
would be very big gainers if Arizona starts arresting everyone who looks like they could
be an illegal
allien. . Source.
Other for profit "public" industries like for-profit-prisons are
sure to be treated to the
same type of questions that the for profit-schools are, especially in view of the recent
escape
of killers ftom Arizona's for-profit prison system..
Warden, security chief resign after prison
escape from a prison ran
for profit by a contracting
company called Management & Training Corporation
Criminal Prosecution of these
For-Profit Schools for Fraud is very likely.
Some of the schools have even instructed students about how to lie in order to get Federal
Govertnment
student aid. In an era of retrenchment, their lobbyists will have to start doling
out a lot
of huge bribes to Congressmen. But that's what unlimited corporate campaign contributions
are for, thanks to the Supreme Court. See original article in Barrons.
Kahn Swick & Foti, LLC and Former Louisiana State Attorney General
Announce Filing of First Securities Fraud Class Action Against Apollo Group.
Lawyers representing shareholders are getting in the act, too. APOL's officers are
charged with
"making a series of materially false and misleading statements related to the
Company's business
and operations in violation of the Securities Exchange Act of 1934....In particular, the
Complaint
alleges that despite extensive positive statements by defendants in press releases and SEC
filings
during the Class Period regarding the Company's operational performance and future growth
projections, these statements were false because: (1) defendants had propped up the
Company's
results by fraudulently inducing students to enroll in APOL's scholastic and educational
programs
and engaged in other manipulative recruiting tactics; (2) defendants had materially
overstated
the Company's growth prospects by failing to properly disclose that defendants had engaged
in illicit and improper recruiting activities, which also had the effect of artificially
inflating the
Company's reported results and future growth prospects; and (3) APOL did not maintain
adequate systems of internal operational or financial controls, which would have permitted
APOL's reported operational statements and foreseeable growth prospects to be true,
accurate
or reliable.
It was only on August 3, 2010 that investors finally began to learn the truth about APOL
after the United States General Accounting Office ("GAO") issued a report that
concluded
that for-profit educational institutions like APOL had engaged in an illegal and
fraudulent course
of action designed to recruit students and over-charge the federal government for the cost
of
such education. Following these disclosures, shares of the Company declined precipitously
over
just a few trading days -- falling almost 10% between August 3 and August 5, 2010, on
unusually
high trading volume, thereby eradicating over $684.53 million of the Company's market
capitalization
in only four trading days.: (Source
)
Below is the Tiger Index for these education stocks. Note the heavy insider selling
in the deeply red
readings from TigerSoft's Insider Ttrading Indicator - the Tiger Accumulation Index. Sell
short
on rallies after you see this and on red Sell Signals. See our warnings and
news about this industry
on 8/7/2010.
|
This is
definitely a time when investors should be watching how Wall Street Professionals
are treating these stocks. They are becoming pariahs.
They now have a stench of criminal
fraud. Watch TigerSoft's now red Accumulation
Index for these stocks and the (blue)
downtrend of their Professional Closing Power. Click on the
links to see these stocks
Reported
Insider Sales:
APOL Apollo Group
IINSIDER SELLER
His apparent core belief: I find I must have more money, no matter that
I am
one of the 313 richest
Americans. Insider selling? No moral problem, at all, here.
"Sperling,
who is so very concerned about Californias carbon footprint, owns more
than
30 homes."
His San Franscisco $65
million house - no one lives there.
Sperling sold 700,000 shares of APOL. Did he know of coming collapse of APOL
because of Congressional investigation's then unreported findings.
Jul 29, 2010 |
SPERLING PETER VOfficer |
55,000 |
Direct |
Sale at $47.01 per share. |
$2,585,550 |
Jul 23, 2010 |
SPERLING PETER VOfficer |
75,000 |
Direct |
Sale at $50.55 per share. |
$3,791,250 |
Jul 22, 2010 |
SPERLING PETER VOfficer |
20,000 |
Direct |
Sale at $46.56 per share. |
$931,200 |
Jul 20, 2010 |
SPERLING PETER VOfficer |
100,000 |
Direct |
Sale at $47.67 per share. |
$4,767,000 |
Jul 13, 2010 |
SPERLING PETER VOfficer |
100,000 |
Direct |
Sale at $43.84 per share. |
$4,384,000 |
Jul 8, 2010 |
SPERLING PETER VOfficer |
150,000 |
Direct |
Sale at $43.77 per share. |
$6,565,500 |
Apr 30, 2010 |
SPERLING PETER VOfficer |
113,821 |
Direct |
Sale at $57.44 - $58.2 per share. |
$6,581,0002 |
Apr 29, 2010 |
SPERLING PETER VOfficer |
106,279 |
Direct |
Sale at $57.80 per share. |
$6,142,926 |
Peter V. Sperling (born 1960) is one of the 400 wealthiest Americans, and the
son of John
Sperling[1].
He is Senior Vice President and a Director of Apollo Group,
and a co-founder and Chairman of CallWave, Inc.[2]
Reported nsider selling varied from one
company to another, as measured
by SEC filings. But when you look at the TigerSoft charts you can see
how similar
they all were. The unofficial selling was rampant. Insiders
always know first. They tell
their friends on Wall Street. Then the collapses began in
earnest, long before the GAO
report was made public.
DV DeVry
ESI ITT Education
LOPE Grand Canyon Education
CECO Career Education
CPLA
Capella Education
Aug 3, 2010 |
HENKEL SCOTT MOfficer |
1,200 |
Direct |
Option Exercise at $20 per share. |
$24,000 |
Aug 3, 2010 |
HENKEL SCOTT MOfficer |
1,200 |
Direct |
Sale at $91.55 per share. |
$109,860 |
Aug 2, 2010 |
OFFERMAN MICHAEL JOfficer |
4,521 |
Direct |
Option Exercise at $20 per share. |
$90,420 |
Aug 2, 2010 |
OFFERMAN MICHAEL JOfficer |
4,521 |
Direct |
Sale at $92.65 per share. |
$418,870 |
Jul 29, 2010 |
RONNEBERG AMY LOfficer |
11,922 |
Direct |
Option Exercise at $20 - $53.91 per share. |
N/A |
Jul 29, 2010 |
RONNEBERG AMY LOfficer |
11,922 |
Direct |
Sale at $92.44 per share. |
$1,102,069 |
Jul 29, 2010 |
HENKEL SCOTT MOfficer |
6,631 |
Direct |
Option Exercise at $15.13 - $20 per share. |
N/A |
Jul 29, 2010 |
HENKEL SCOTT MOfficer |
6,631 |
Direct |
Sale at $92.70 per share. |
$614,693 |
Jul 29, 2010 |
THOM GREGORY WOfficer |
2,500 |
Direct |
Option Exercise at $11.92 per share. |
$29,800 |
Jul 29, 2010 |
THOM GREGORY WOfficer |
2,500 |
Direct |
Sale at $91.58 per share. |
$228,950 |
Jul 29, 2010 |
TUKUA DARRELL RDirector |
10,000 |
Indirect |
Option Exercise at $15.13 per share. |
$151,300 |
Jul 29, 2010 |
TUKUA DARRELL RDirector |
10,000 |
Indirect |
Sale at $91.86 per share. |
$918,600 |
Jun 14, 2010 |
THOM GREGORY WOfficer |
500 |
Direct |
Option Exercise at $20 per share. |
$10,000 |
Jun 14, 2010 |
THOM GREGORY WOfficer |
500 |
Direct |
Sale at $83.37 per share. |
$41,685 |
COCO Corinthian Colleges
STRA Strayer Education linc
Aug 13, 2010 |
BROCK WILLIAM EDirector |
700 |
Direct |
Sale at $201.02 per share. |
$140,714 |
LINC Lincoln Educational Services
May 27, 2010 |
ABRAMS EDWARD BOfficer |
13,469 |
Direct |
Option Exercise at $14 per share. |
$188,566 |
May 27, 2010 |
ABRAMS EDWARD BOfficer |
13,469 |
Direct |
Sale at $24.18 per share. |
$325,680 |
May 26, 2010 |
MCHUGH THOMAS FOfficer |
2,029 |
Direct |
Sale at $24 per share. |
$48,696 |
May 26, 2010 |
ABRAMS EDWARD BOfficer |
3,989 |
Direct |
Option Exercise at $11.96 - $14 per share. |
$52,0002 |
May 26, 2010 |
ABRAMS EDWARD BOfficer |
3,989 |
Direct |
Sale at $24.18 per share. |
$96,454 |
May 21, 2010 |
SHAW SCOTT MOfficer |
71,453 |
Direct |
Option Exercise at $3.10 per share. |
$221,504 |
May 21, 2010 |
CARNEY DAVID FOfficer |
25,000 |
Direct |
Option Exercise at $11.96 per share. |
$299,000 |
May 17, 2010 |
SHAW SCOTT MOfficer |
3,896 |
Direct |
Option Exercise at $3.10 per share. |
$12,077 |
May 17, 2010 |
SHAW SCOTT MOfficer |
3,896 |
Direct |
Sale at $25 per share. |
$97,400 |
May 17, 2010 |
CARNEY DAVID FOfficer |
7,500 |
Direct |
Option Exercise at $3.10 per share. |
$23,250 |
May 17, 2010 |
CARNEY DAVID FOfficer |
32,800 |
Direct |
Sale at $24.98 per share. |
$819,344 |
May 17, 2010 |
CARNEY DAVID FOfficer |
7,500 |
Direct |
Automatic Sale at $24.70 per share. |
$185,250 |
May 13, 2010 |
SHAW SCOTT MOfficer |
12,104 |
Direct |
Option Exercise at $3.10 per share. |
$37,522 |
May 13, 2010 |
SHAW SCOTT MOfficer |
12,104 |
Direct |
Sale at $25.09 per share. |
$303,689 |
May 13, 2010 |
CARNEY DAVID FOfficer |
40,000 |
Direct |
Sale at $24.91 per share. |
$996,400 |
May 3, 2010 |
CARNEY DAVID FOfficer |
7,500 |
Direct |
Option Exercise at $3.10 per share. |
$23,250 |
May 3, 2010 |
CARNEY DAVID FOfficer |
7,500 |
Direct |
Automatic Sale at $24.83 per share. |
$186,225 |
See how the Blue Accumulation Index turned Red, showing insiders
knew
of the GAO investigation's criminal fraud findings. See how Wall Street Pros
shofted from buying (uptrending blue
Tiger Pro-Closing Power)
to showing Wall Street selling and
selling short (falling blue Tiger
Pro-CLosing Power)
The way to play these stocks is simple. Trade the trend of the TigerSoft
Pro-Closing Power |