Corinthian Colleges Inc said it would explore strategic alternatives as student enrollments decline and the company faces potential legal action from U.S. regulators.Corinthian shares were down about 7 percent in premarket trading on Tuesday, after the company reported weaker-than-expected third-quarter results.The for-profit education company said its board had authorized the retention of an investment bank to explore its options.Corinthian said it was also in non-compliance with certain bank debt covenants, after recording some charges in the third quarter, including a non-cash charge of $71.3 million related to continuing operations.
Corinthian Colleges, Inc. is a post-secondary education company in the United States and Canada. Shares of COCO fell by 9.24% or $-0.11/share to $1.08. In the past year, the shares have traded as low as $1.15 and as high as $2.97. On average, 946521 shares of COCO exchange hands on a given day and today's volume is recorded at 3368815.
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