Covista controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2019
Shareholder litigation over graduate-outcome statements
A shareholder class action alleged that the company made misleading statements concerning DeVry graduate employment rates and earnings comparisons. The case was settled for $27.5 million.
2019
DeVry settles securities class action for $27.5 million
Settlement
DeVry Education Group and four executives settled a class action brought by Utah Retirement Systems for $27.5 million. The lawsuit alleged false statements to investors about graduates' job placement and salary outcomes; the article reports the allegations and settlement, not a court finding on the claims.
Source excerpt
The lawsuit alleged that DeVry Education Group Inc., CEO Daniel Hamburger, CFO Richard Gunst, Gunst’s successor Timothy Wiggins, and Chief Accounting Officer Patrick Unzicker made false statements to investors about the job placement and salary outcomes achieved by its students after graduation.
DeVry Education Group and four of its executives have settled a class action lawsuit brought by lead plaintiff Utah Retirement Systems for $27.5 million.
2017
Former administrator alleges retaliation over incentive compensation
A former administrator filed a civil action alleging retaliation and wrongful termination after raising concerns about an incentive-based compensation program connected with recruitment and enrollment.
2016
Federal Trade Commission deceptive-advertising settlement
The Federal Trade Commission alleged that DeVry's advertising made false or misleading claims about graduate employment and earnings. The company agreed to a $100 million settlement, including cash payments to students and forgiveness of student loans.