DOWNERS GROVE, Ill.--(BUSINESS WIRE)--
DeVry Education Group is pleased with the decision issued May 8, 2014 by
Judge John F. Grady of the U.S. District Court for the Northern District
of Illinois. Judge Grady found that a securities fraud class action
filed against DeVry Group and certain senior executives four years ago
was a "strike suit," or a suit filed without any legitimate basis for
the purpose of obtaining a private settlement. The Court also held that
DeVry Group presumptively is entitled to recover its reasonable
attorneys' fees and expenses for the entire action.
"We are pleased with the Court's decision. It confirms what we have
known for four years - that this was a frivolous suit," said Greg Davis,
general counsel at DeVry Education Group.
About DeVry Education Group
The purpose of DeVry Education Group is to empower its students to
achieve their educational and career goals. DeVry Education Group Inc.
(NYSE: DV; member S&P MidCap 400 Index) is a global provider of
educational services and the parent organization of American University
of the Caribbean School of Medicine, Becker Professional Education,
Carrington College, Carrington College California, Chamberlain College
of Nursing, DeVry Brasil, DeVry University, Ross University School of
Medicine and Ross University School of Veterinary Medicine. These
institutions offer a wide array of programs in business, healthcare,
technology, accounting and finance.
Source: DeVry Education Group